Stocks posted small losses Wednesday, taking a breather a day after two of the three major indexes hit all-time highs.
 | FRI, DEC 04, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 122.25 | -0.69 | -0.56% | | INTC | 51.98 | +0.99 | +1.95% | | BA | 232.71 | -4.49 | -1.89% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 10.88 | +0.28 | +2.64% | | AAL | 16.40 | +0.31 | +1.93% | | AAPL | 122.25 | -0.69 | -0.56% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 122.25 | -0.69 | -0.56% | | AMD | 94.04 | +1.73 | +1.87% | | INTC | 51.98 | +0.99 | +1.95% | |
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Sometimes bad news is good news for the market. The Labor Department reported that 245,000 jobs were added in November. That's well below a Dow Jones estimate of 440,000. Normally, a headline number that weak relative to expectations would knock stocks down. On Friday, however, the major averages all posted record highs. The Dow ended the day up more than 200 points, while the S&P 500 and Nasdaq Composite advanced 0.9% and 0.7%, respectively. All three benchmarks also notched their fourth weekly gain in five weeks.  Charlie Ripley, senior investment strategist at Allianz Investment Management, noted that one reason why the market was able to shake off such a disappointing jobs number is because it "is beckoning lawmakers to act on additional fiscal stimulus measures in order to bridge the output gap in the economy until a vaccine is deployed." JJ Kinahan, chief market strategist at TD Ameritrade, also said that a chunk of the job losses last month came from the U.S. government as the 2020 Census count wrapped up while other areas of the labor market remained strong. Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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