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Stocks Largely Unchanged Amid Shortened Trading Week

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Stocks were largely unchanged on Wednesday amid a shortened week of trading and few major catalysts to drive market action. The S&P 500 neared an all-time high record close of 4,796 on Wednesday. The benchmark average and the tech-heavy Nasdaq Composite were barely in positive territory. Meanwhile, the Dow Jones Industrial Average (DJIA) closed slightly lower. For the year, all three major averages are up double digits. The S&P 500 has risen more than 24% while the Dow Jones is up over 13%. The Nasdaq has led gains, adding about 44% thus far this year. As of Wednesday afternoon, the S&P 500 is headed for its ninth straight week of increases, which would mark its best run since 2004. The major average has gained nearly 13% since Nov. 1. The surge higher in stocks over the past two months has come as investors have increased bets that the Federal Reserve will cut interest rates in March and inflation falls closer to the central bank's 2% target with few signs that the US economy is set for a full-on slowdown.

Stocks were largely unchanged on Wednesday amid a shortened week of trading and few major catalysts to drive market action. The S&P 500 neared an all-time high record close of 4,796 on Wednesday. The benchmark average and the tech-heavy Nasdaq Composite were barely in positive territory. Meanwhile, the Dow Jones Industrial Average (DJIA) closed slightly lower. For the year, all three major averages are up double digits. The S&P 500 has risen more than 24% while the Dow Jones is up over 13%.

The Nasdaq has led gains, adding about 44% thus far this year. As of Wednesday afternoon, the S&P 500 is headed for its ninth straight week of increases, which would mark its best run since 2004. The major average has gained nearly 13% since Nov. 1. The surge higher in stocks over the past two months has come as investors have increased bets that the Federal Reserve will cut interest rates in March and inflation falls closer to the central bank's 2% target with few signs that the US economy is set for a full-on slowdown

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Stocks Drop as Investors Assess US Jobs ReportInvestors are evaluating the US monthly jobs report, which could impact the Federal Reserve's decision on interest rates. The report shows a steady unemployment rate of 3.7% in November, indicating that the labor market may not be cooling as quickly as expected. The economy added 199,000 jobs, suggesting that the Fed's rate hikes have peaked. The market is also considering a potential merger probe for tech giants like Alphabet and monitoring OPEC+ cuts to prevent a global glut.
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