Stock Market Today: S&P 500, Dow, and Nasdaq Fall Following New Economic Data and Reduced Rate Cut Bets
Here’s a summary of the news articles:
Market Summary
- The S&P 500 and Dow Jones Industrial Average rose slightly on Tuesday, while the Nasdaq Composite fell about 1%.
- Investors were focused on labor market data and interest rate expectations.
- The 10-year Treasury yield increased after the release of job openings and ISM Services Index data.
Labor Market Data
- Job openings rose more than expected in November to 8.1 million, up from 7.84 million in October.
- Economists had expected a figure of 7.74 million.
- The hiring rate fell to 3.3% from 3.4% in October.
ISM Services Index
- The ISM Services Index rose to 56.2 in December, beating expectations.
- The increase was driven by strong growth in new orders and production.
Nvidia
- Nvidia’s stock rose as much as 2.5% in premarket trading after CEO Jensen Huang’s keynote at CES.
- Huang unveiled updates on upcoming products that preview emerging technologies like AI and robotics.
Other News
- Cal-Maine Foods will report earnings today.
- The Bureau of Labor Statistics will release job openings data for November, and the ISM Services Index for December.
