S&P 500 and Nasdaq Down 0.2% as U.S. Stock Indices Retreat After Record Highs
U.S. stock indices failed to extend those records today after the Dow, S&P 500, and Nasdaq reached historic highs yesterday, retreating late in the session.
All three major indices ended the session lower, with the small-cap Russell 2000 experiencing the steepest decline, dropping 1.25%. The Nasdaq and S&P 500 both shed 0.2%, reversing modest gains made earlier in the U.S. session. This contrasted with the late-session upward momentum that has characterized recent equity performance.
Market Awaits Non-Farm Payrolls
Thursday’s market activity reflected a cautious tone as investors awaited Friday’s non-farm payrolls (NFP) report. The overall price action lacked a clear narrative, and the decline in the U.S. dollar added to the uncertainty. While initial unemployment claims came in slightly higher than expected, the increase was not alarming. Expectations for Federal Reserve policy remained steady, with markets pricing in a 70% likelihood of a rate hold in December.
Bitcoin Profit-Taking Weighs on Markets
The session’s decline coincided with a sharp drop in BITCOIN , which fell from $103,000 to $97,000 earlier in the day. This suggests some degree of profit-taking, possibly fueled by concerns that the Federal Reserve might issue hawkish signals following the NFP report.
Russell 2000 Eyes Key Milestone
The Russell 2000 remains focused on achieving a new record close, a milestone it has not reached since November 2021. To break the record, the index needs to surpass 2442.74. On November 25, it narrowly missed this level by just 0.73 points. Last Friday, the index rallied to 2434.72 but failed to sustain those gains into the session’s close.
Main US Stock Indices – Final Closing Numbers
- Dow Industrial Average: -250 points (-0.5%) at 44,765
- S&P 500: -12 points (-0.2%) at 6,075
- Nasdaq Index: -35 points (-0.2%) at 19,700
- Russell 2000: -30 points (-1.3%) at 2,396
Big Winners of the Day
- American Airlines (AAL): +16.87%
- Roblox (RBLX): +8.07%
- GameStop Corp (GME): +5.92%
- Papa John’s (PZZA): +4.39%
- Stellantis NV (STLA): +4.01%
- Tesla (TSLA): +3.23%
S&P 500 Live Chart
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