Overview
The U.S. stock market rose as weak ADP employment data fueled expectations of a Federal Reserve rate cut. The expansion in the services sector and the drop in the payment price index were seen as signs of easing inflation, positively impacting the market.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
Major News Story
- November's ADP non-farm payrolls decreased by 32,000, the largest drop since 2023, raising concerns over labor market weakness.
- The services sector expanded, while the price index dropped, signaling reduced inflation pressures.
- Microsoft shares fell by 2.5% after reports of declining AI software sales but rebounded after CNBC refuted those reports.
- AI-related semiconductor stocks like Nvidia and Broadcom showed weakness following Microsoft's news.
- Micro Technology soared by 12.2% after upwardly revising Q3 earnings outlook, while Marvell Technology rose 8% on acquiring a semiconductor startup and optimistic sales forecasts.
- Robot-related stocks gained after news of an upcoming executive order from the Trump administration.
Tomorrow's Economic Indicators
| Time | Event |
|---|---|
| 8:30 PM | U.S. November Challenger Job Cuts |
| 8:30 PM | U.S. Initial Jobless Claims |
| 2:30 PM | U.S. EIA Natural Gas Inventory |
| 2:00 PM | Fed Vice Chair Bowman Speech |
General Opinion
Recent signals of labor market weakness have boosted expectations for a Federal Reserve rate cut. The stock market has responded positively to these expectations, posting gains. Upcoming economic indicators and the Federal Reserve's decision will significantly influence the market's direction.
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daily stock summary
