US open: Stocks little changed as jobless claims hit three‑year low, rate cut hopes remain

(Sharecast News) - Major indices were little changed early on Thursday as investors continued to weigh the likelihood of a December rate cut by the Federal Reserve following weaker‑than‑expected private payrolls data. As of 1530 GMT, the Dow Jones Industrial Average was down 0.04% at 47,861.36, while the S&P 500 shed 0.13% to 6,840.83, and the Nasdaq Composite came out of the gate 0.22% softer at 23,402.70.

The Dow opened 21.54 points lower on Thursday, taking only a modest bite out of gains recorded in the previous session after ADP's figures pointed to softness in the labour market, fuelling expectations that the Federal Reserve could move to ease policy at its 10 December meeting. According to the CME FedWatch tool, markets have now priced in an 89% chance of a cut.

Investors also continued to monitor developments on US tariff policy after Treasury Secretary Scott Bessent told the New York Times that the White House could revive its tariff agenda under provisions of the 1962 Trade Act, even if the current structure fails to secure approval in a pending Supreme Court case.

On Thursday's macro slate, layoffs announced by US employers dropped sharply in November, with Challenger, Gray & Christmas reporting planned job cuts fell 53% month‑on‑month to 71,321 - though the figure was still 24% higher than the same time a year earlier and the largest November total since 2022. Year‑to‑date, US companies have announced around 1.17m cuts, up 54% on the same period in 2024, while hiring intentions remained subdued, with just 497,151 planned additions as businesses grappled with tariffs and slowing demand.

Elsehwere, Americans lined up for unemployment benefits at a decelerated clip in the week ended 29 November, according to the Department of Labor, marking a fourth consecutive weekly drop. Initial jobless claims dropped by by 27,000 to 191,000, well below market expectations of 220,000 and the lowest print in more than three years. Continuing claims fell 4,000 to 1.93m, while the four-week moving average, which aims to strip out week-to-week volatility, contracted by 9,500 to 214,750. The advance seasonally adjusted insured unemployment rate was unchanged at 1.3%.

Finally, US factory orders rose 0.2% month-on-month in September, according to the Census Bureau, following a downwardly revised 1.3% increase in August and missing estimates of a 0.5% uptick.

In the corporate space, shares in discount retailer Dollar General hit a four-month high in early trading after revealing that third-quarter sales had come in ahead of expectations, leading it hike its full-year guidance.

Still to come, Hewlett Packard will publish its latest quarterly figures after the close.







Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Verizon Communications Inc. (VZ) $41.26 1.44% JP Morgan Chase & Co. (JPM) $316.53 1.41% American Express Co. (AXP) $371.24 0.85% International Business Machines Corporation (CDI) (IBM) $304.82 0.73% McDonald's Corp. (MCD) $309.40 0.55% Salesforce.Com Inc. (CRM) $239.96 0.52% Caterpillar Inc. (CAT) $593.83 0.40% Coca-Cola Co. (KO) $71.08 0.38% Goldman Sachs Group Inc. (GS) $839.63 0.37% Microsoft Corp. (MSFT) $478.92 0.25%

Dow Jones - Fallers

Intel Corp. (INTC) $42.16 -3.66% Boeing Co. (BA) $199.15 -1.67% 3M Co. (MMM) $170.33 -1.59% Unitedhealth Group Inc. (UNH) $334.56 -1.52% Dow Chemical Co. (DOW) $23.42 -1.43% Home Depot Inc. (HD) $354.15 -1.05% Apple Inc. (AAPL) $281.70 -0.86% Visa Inc. (V) $327.14 -0.75% Walt Disney Co. (DIS) $104.95 -0.75% Johnson & Johnson (JNJ) $203.84 -0.73%

S&P 500 - Risers

Dollar General Corp (DG) $119.61 8.85% Meta Platforms Inc. (META) $668.53 4.52% Hormel Foods Corp. (HRL) $24.29 4.38% Brown Forman Corp. Class B (BF.B) $31.11 3.41% Dollar Tree Inc (DLTR) $116.06 2.78% Invesco Ltd. (IVZ) $25.00 2.50% Jefferies Financial Group Inc. (JEF) $59.54 1.93% Hewlett Packard Enterprise (HPE) $22.65 1.75% Franklin Resources Inc. (BEN) $23.40 1.70% Edwards Lifesciences Corp. (EW) $85.41 1.70%

S&P 500 - Fallers

PVH Corp. (PVH) $77.38 -11.62% Kroger Co. (KR) $62.51 -5.57% IQVIA Holdings Inc. (IQV) $215.37 -5.23% Wynn Resorts Ltd. (WYNN) $125.38 -4.68% CenturyLink Inc. (LUMN) $9.19 -4.02% Nektar Therapeutics (NKTR) $54.85 -3.98% Alexandria Real Estate Equities Inc. (ARE) $46.57 -3.82% Micron Technology Inc. (MU) $225.33 -3.77% Intel Corp. (INTC) $42.16 -3.66% Revvity, Inc. (RVTY) $99.61 -3.54%

Nasdaq 100 - Risers

Meta Platforms Inc. (META) $668.53 4.52% Check Point Software Technologies Ltd. (CHKP) $196.56 2.86% Dollar Tree Inc (DLTR) $116.06 2.78% Fastenal Co. (FAST) $41.78 1.37% J.B. Hunt Transport Services Inc. (JBHT) $190.30 1.27% Vodafone Group Plc ADS (VOD) $12.70 0.91% Tesla Inc (TSLA) $450.27 0.79% Baidu Inc. (BIDU) $118.18 0.77% Intuit Inc. (INTU) $652.08 0.68% Cognizant Technology Solutions Corp. (CTSH) $79.78 0.68%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $9.31 -5.00% Wynn Resorts Ltd. (WYNN) $125.38 -4.68% Micron Technology Inc. (MU) $225.33 -3.77% Intel Corp. (INTC) $42.16 -3.66% Costco Wholesale Corp. (COST) $898.31 -2.60% Lam Research Corp. (LRCX) $155.76 -2.50% Illumina Inc. (ILMN) $125.37 -2.02% Marriott International - Class A (MAR) $300.56 -1.99% Asml Holdings N.V. (ASML) $1,120.21 -1.82% Amazon.Com Inc. (AMZN) $228.79 -1.54%