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03 Dec, 2020 01:52

US close: Stocks finish mixed after disappointing jobs data

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Wall Street stocks closed in a mixed state on Wednesday, after some disappointing data from the ADP.

At the close, the Dow Jones Industrial Average was up 0.2% at 29,883.79 and the S&P 500 was 0.18% stronger at 3,669.01, while the Nasdaq Composite finished off the session 0.05% softer at 12,349.37

The Dow closed 59.87 points higher, cutting into gains recorded in the previous session after lawmakers proposed a $908.0bn stimulus plan, only to see it shot down by Senate majority leader Mitch McConnell later in the day.

In focus earlier in the day was news that the UK had approved Pfizer and BioNTech's Covid-19 vaccine candidate for emergency use, signalling yet another major step in the battle against the coronavirus.

Shares in Pfizer gained 3.53% by the close in New York.

However, despite the vaccine update, a warning from Federal Reserve chairman Jerome Powell that America's economic outlook was "extremely uncertain" weighed on sentiment in the morning.

Comments from president-elect Joe Biden were also weighing on sentiment after he said he would not move to immediately pull tariffs placed by his predecessor on China.

On the macro front, mortgage applications to purchase a home jumped 9% week-on-week or 28% year-on-year, according to the Mortgage Bankers Association.

Elsewhere, ADP employment change figures rose by 307,000 in November, short of consensus estimates for a reading of 430,000 and lower than the 404,000 expected on the Street.

Lastly, the ISM's New York Index decreased by 20.9 points from the 18-month high of 65.1 reported in October to a three-month low of 44.2 in November.

In the corporate space, Salesforce closed down 8.52% after it announced overnight that it would be acquiring messaging platform Slack for $27.7bn, the company's largest-ever deal.

Dow Jones - Risers

Boeing Co. (BA) $223.85 5.09%
Exxon Mobil Corp. (XOM) $39.94 3.74%
Walgreens Boots Alliance, Inc. (WBA) $39.84 3.59%
Pfizer Inc. (PFE) $40.80 3.53%
Walt Disney Co. (DIS) $153.61 2.79%
Chevron Corp. (CVX) $89.87 2.77%
Goldman Sachs Group Inc. (GS) $237.65 2.40%
American Express Co. (AXP) $122.33 2.00%
JP Morgan Chase & Co. (JPM) $122.04 1.92%
Unitedhealth Group Inc. (UNH) $347.56 1.87%

Dow Jones - Fallers

McDonald's Corp. (MCD) $210.86 -2.44%
Home Depot Inc. (HD) $271.10 -1.99%
Walmart Inc. (WMT) $150.52 -1.39%
Procter & Gamble Co. (PG) $138.36 -0.72%
Visa Inc. (V) $210.18 -0.48%
Microsoft Corp. (MSFT) $215.37 -0.39%
Dowdupont Inc. (DWDP) $30.52 0.00%
Nike Inc. (NKE) $135.58 0.10%
Coca-Cola Co. (KO) $52.11 0.13%
Apple Inc. (AAPL) $123.08 0.29%

S&P 500 - Risers

NetApp Inc. (NTAP) $59.23 9.36%
HollyFrontier Corp (HFC) $26.23 8.48%
Valero Energy Corp. (VLO) $58.07 6.75%
Coty Inc. Class A (COTY) $7.39 6.03%
Apache Corp. (APA) $13.11 5.98%
Devon Energy Corp. (DVN) $14.80 5.71%
Kohls Corp. (KSS) $38.55 5.56%
DENTSPLY Sirona Inc. (XRAY) $53.37 5.43%
Macy's Inc. (M) $10.96 5.38%
Boeing Co. (BA) $223.85 5.09%

S&P 500 - Fallers

Salesforce.Com Inc. (CRM) $220.78 -8.52%
Whirlpool Corp. (WHR) $183.78 -5.17%
Genuine Parts Co. (GPC) $96.98 -4.61%
Rollins Inc. (ROL) $55.16 -4.14%
D. R. Horton Inc. (DHI) $69.27 -3.91%
Masco Corp. (MAS) $51.82 -3.73%
Sherwin-Williams Co. (SHW) $715.65 -3.71%
Incyte Corp. (INCY) $82.27 -3.69%
Gap Inc. (GPS) $20.92 -3.37%
Air Products & Chemicals Inc. (APD) $273.88 -3.28%

Nasdaq 100 - Risers

DENTSPLY Sirona Inc. (XRAY) $53.37 5.43%
American Airlines Group (AAL) $14.86 4.13%
Walgreens Boots Alliance, Inc. (WBA) $39.84 3.59%
Liberty Global plc Series A (LBTYA) $23.99 3.36%
Liberty Global plc Series C (LBTYK) $23.04 3.27%
Micron Technology Inc. (MU) $69.11 3.03%
Wynn Resorts Ltd. (WYNN) $105.13 2.71%
Lam Research Corp. (LRCX) $479.22 2.47%
Baidu Inc. (BIDU) $143.70 2.45%
Henry Schein Inc. (HSIC) $66.49 2.43%

Nasdaq 100 - Fallers

Incyte Corp. (INCY) $82.27 -3.69%
Trip.com Group Limited (TCOM) $33.15 -3.66%
Tesla Inc (TSLA) $568.82 -2.73%
O'Reilly Automotive Inc. (ORLY) $442.41 -2.46%
Hasbro Inc (HAS) $93.93 -2.35%
Synopsys Inc. (SNPS) $224.72 -2.30%
Verisk Analytics Inc. (VRSK) $195.99 -2.07%
NetEase Inc. Ads (NTES) $88.13 -2.06%
Fastenal Co. (FAST) $47.58 -1.94%
Paypal Holdings Inc (PYPL) $212.56 -1.84%

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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.