Wall Street traders are busy preparing for key factors that will help the Federal Reserve decide whether to cut rates or hold steady in December.non-farm payroll dataThe US stock market is losing momentum near record highs.
The large cap market fell the day after the s&p 500 index set a new high for the 56th time this year, with the s&p 500 index down 0.2%.
Among the constituents, 22 stocks reached new highs on Thursday, including United Airlines, delta air lines, and f5 inc., while 14 individual stocks hit 52-week highs, and seven constituents fell to record lows or 52-week lows.
The dow jones industrial average dropped 0.6%,E-mini Russell 2000 Index down 1.3%, and the nasdaq 100 index fell 0.3%.
During the week of Thanksgiving, the number of initial jobless claims in the usa rose to a one-month high, and economists estimate that non-farm employment will increase by 0.22 million in November, with the unemployment rate expected to remain unchanged at 4.1%.
"Tomorrow's monthly non-farm data will give us a more comprehensive view, but for now, the situation remains that the job market sometimes shows signs of fatigue but is not collapsing," said Chris Larkin from morgan stanley E*Trade.
Applied materials fell after analysts downgraded their ratings, while Tesla rose as bank of america raised its target price.
Memestock companies like GameStop and AMC Entertainment surged after retail investor Keith Gill, known as Roaring Kitty, posted a mysterious message.
A survey by 22V Research showed that 45% of investors believe Friday's non-farm data is "mixed/insignificant," 32% expect it will lead to "risk-off," and 23% are bullish on it stimulating risk appetite.
Wells Fargo expects that us stocks will perform "bond-like" in 2025, with the s&p index targeting 7,007 points.