New York Stock Market Ends Mixed... Nasdaq and S&P 500 Hit Record Highs

The three major stock indices on the New York Stock Exchange closed mixed. Although November nonfarm payrolls exceeded expectations, blue-chip stocks struggled as selling pressure emerged mainly in traditional industries.

On the 6th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average fell 123.19 points (0.28%) from the previous close to finish at 44,642.52.

Meanwhile, the S&P 500 index rose 15.16 points (0.25%) to 6,090.27, and the Nasdaq Composite index gained 159.05 points (0.81%) to close at 19,859.77.

The Nasdaq and S&P 500 indices each hit record highs.

On the day, the U.S. Department of Labor announced that November nonfarm payrolls increased by 227,000 from the previous month, surpassing the market expectation of a 200,000 increase. The November unemployment rate was 4.2%, slightly above the previous month’s 4.1% but in line with expectations. In this 'Goldilocks' scenario?neither too hot nor too cold?technology stocks broadly led the market rally, while the Dow, composed mainly of blue-chip stocks, remained slightly down.

Apple and Nvidia declined, but Microsoft and Alphabet rose, while Amazon and Meta jumped more than 2%. Tesla gained over 5% amid ongoing expectations that Elon Musk will benefit from the next administration. Broadcom also rose 5%, Adobe and Arm each climbed more than 2%, with AI and semiconductor-related stocks advancing.

However, UnitedHealth Group fell more than 5% for the second consecutive day amid speculation that regulators will monitor insurance claim payment avoidance following the CEO’s assassination. Selling pressure was also observed mainly in traditional sectors such as consumer staples and manufacturing.