Indexes end near flat, supported by Fed hopes but dragged by Amazon
Thu December 4, 2025 4:24 PM
The markets were more or less flat today due to the continued lack of government data. But the data that is coming from private sources shows a mixed picture with, on the one hand, unemployment falling but, on the other hand, probably due to temporary holiday hiring. Today’s Commerce Dept data shows factory orders continuing to shrink due to tariffs but, overall, good news for the rate cut crowd. Powell remains modestly hawkish but the overall sentiment is that a cut is coming this month.
The major detriment continues to be that November employment data, which the Fed needs for guidance on rate policy, is being delayed until after their announcement this month. PCE is due tomorrow and that will help clarify the inflation picture. Other than that, it’s wait-and-see until data becomes available. Volume remains considerably below average, coming in at 15.13 billion vs the 17.98 for the last 20 trading days.
DJ: 47,882.90 +408.44 NAS: 23,454.09
+40.42 S&P: 6,849.72
+20.35 12/3
DJ: 47,850.94 -31.96 NAS: 23,505.14
+51.04 S&P: 6,857.12
+7.40 12/4
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