US Markets Flat, Job Market Strong, China Cautious

US stock markets remained largely unchanged today, with the S&P 500 and Dow Jones posting modest gains, while the Nasdaq dipped slightly. The labor department reported a drop in weekly initial unemployment claims, indicating a robust job market. However, continuing claims rose, slightly missing expectations. In China, the central bank maintained a cautious stance, ruling out quick rate cuts. Investors are optimistic due to seasonal trends, with the S&P 500 historically climbing in the last two weeks of December. Bond yields eased, and overseas, Europes Stoxx 50 was down slightly, while Chinas Shanghai Composite notched its sixth straight gain. Stock movers were mixed, with Apple and Tesla experiencing contrasting performances. Gold and silver reached new highs, but miners like Freeport-McMoRan fell. The market is quiet ahead of the holidays, with focus on year-end momentum.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.