S&P 500: Stock Market Steady Today as US Indices Await Key PCE Inflation Data

Are Mixed Labor Signals Enough to Sway the Fed?

The labor data kept things interesting. Weekly jobless claims fell to the lowest level in more than three years, while corporate layoffs hit their worst November reading since 2022. It’s a split message, but the market isn’t fighting it.

Traders are treating the softness as just enough evidence that inflation pressures should keep cooling, which boosts the case for a December cut. You could see it in the intraday tone — buyers stepped in whenever equities dipped, not aggressively, but confidently enough to hold indexes near record highs.

Which Sectors Showed Leadership — and Which Lagged?

Sector action stayed uneven. Retail names enjoyed a lift thanks to Dollar General’s 12% surge after reporting stronger customer traffic and better-than-expected profits. That move helped stabilize consumer-facing stocks, which have been trying to build momentum into year-end.

Tech, meanwhile, was stuck in a choppy stretch. Pressure on Microsoft, Nvidia, and Broadcom kept the sector from finding much rhythm, even as Salesforce gained more than 3% on upbeat revenue guidance.

Financials and energy traded quietly, reflecting traders’ reluctance to place big directional bets before the Fed meeting.

Which Stocks Defined the Day’s Moves?

Meta set the pace, jumping 4% on reports it may cut metaverse spending by up to 30% next year — a shift investors treated as long-overdue cost discipline. Dollar General’s strong print made it one of the day’s biggest winners.