S&P 500 Rebounds After 3-Day Slide
Stocks rose Wednesday after the S&P 500 posted a third losing session, as investors weighed newly released U.S. economic data.
The S&P 500 traded 0.1% higher along with the Nasdaq Composite. The Dow Jones Industrial Average climbed 146 points, or 0.3%.
The U.S. Bureau of Labor Statistics released early Tuesday its November job report, which also included data from October. The findings pulled back the curtain on the U.S.′ economic health following a federal data backup caused by the U.S. government shutdown this fall.
The report showed the U.S. economy shed 105,000 jobs in October, while the unemployment rate rose to 4.6% — its highest level since September 2021. However, 64,000 jobs were added in November, topping the Dow Jones consensus estimate of 45,000.
The S&P 500 dropped 0.2% and the 30-stock Dow fell 302 points, or 0.6%, on Tuesday as investors digested the data. It was the third consecutive negative day for both indexes.
Source : CNBC.com
