S&P 500 and Dow Close Lower, Nasdaq Rebounds
The S&P 500 and the Dow finished lower on Tuesday losing 0.1% and 0.4%, respectively, the Nasdaq rebounded to close 0.4% higher as investors digested delayed US data that largely reinforced expectations for an eventual easing cycle.
The November jobs report showed payrolls rose by 64K, modestly above forecasts, but October was revised sharply lower and the unemployment rate climbed to 4.6%, the highest since 2021, pointing to a gradually cooling labour market.
Retail sales were flat overall, reinforcing signs that demand is losing momentum. Energy was the weakest sector as oil prices sank below $55 per barrel to their lowest levels since early 2021, weighing on majors such as Exxon Mobil (-2.6%) and Chevron (-2%).
Megacaps were mixed, with Alphabet shedding 0.5%, and Apple, Microsoft, and Amazon mostly flat, while Nvidia (+0.8%), Meta (+1.5%) and Tesla (+3.1%) finished strong and Broadcom (+0.4%) and Oracle (+2%) rebounded, helping lift the Nasdaq despite broader caution.
Source: Tradingeconomics.com