Stock market today: Dow, S&P 500, Nasdaq rise after crucial jobs report

Published On Dec 6, 2024, 11:45 AM

U.S. stock markets rose following the release of the November jobs report, which showed that the economy added 227,000 jobs, slightly more than expected. This report eased concerns about the job market's health, contributing to positive movements in major indices like the Dow Jones, S&P 500, and Nasdaq. Tech stocks, including Amazon and Apple, reached new highs amidst this surge. Investors are optimistic about potential interest rate cuts by the Federal Reserve, with a 91% probability of a rate reduction anticipated during the upcoming meeting on December 18.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY View SPY chart on TradingView

Positive

With the solid job growth and the market's reaction to the potential for interest rate cuts, investors may find opportunities in technology stocks and ETFs, which have shown robust performance. Additionally, retail stocks like Lululemon and Ulta Beauty have also indicated positive forecasts based on raised profit targets following their recent performance.

QQQ View QQQ chart on TradingView

Positive

The strong labor data and its positive impact on the stock market could also benefit ETFs that focus on growth sectors. A potential recommendation would be the QQQ, which tracks the Nasdaq-100, benefitting from the strong performances of key technology firms.

Stock market today: Dow, S&P 500, Nasdaq rise after crucial jobs report

Stock Forecasts

SPY View SPY chart on TradingView

QQQ View QQQ chart on TradingView

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