S&P Closes Narrowly Higher On Thin Volume

Market Overview - The Dow Jones Industrial Average increased by 600 points, or 1.2%, reaching a record high of 4792, while the Nasdaq composite faced pressure, primarily due to Nvidia's performance [7][4]. - The S&P 500 saw a modest gain, with 343 stocks advancing and only one sector, technology, declining by 0.75% [8][9]. Company Performances - Paramount Skydance's stock rose nearly 12.5% intraday, closing just under 10%, after announcing job cuts and cost-saving measures aimed at achieving $3 billion in savings [10][11]. - The RealReal's stock surged by 38% after reporting earnings and sales above estimates, along with an increased revenue guidance for the year [12]. - Instacart's stock increased by 5% due to better-than-expected order growth and a positive earnings outlook, indicating strong demand for grocery delivery services [13]. Decliners - Nvidia's shares fell by 3% after SoftBank sold its entire stake for $5.83 billion, raising concerns among investors about future returns from big tech investments [14][15]. - CoreWeave's stock dropped by 16.3% after the company lowered its annual revenue forecast due to delays in fulfilling a customer contract [16][17]. - Beyond Meat's shares decreased by 9.3% after the company missed revenue forecasts for the fourth quarter, projecting net revenue between $60 million and $65 million, below the consensus estimate of $70.1 million [17]. Labor Market Insights - Recent ADP data suggests a contraction in the labor market, with individual layoff notices from various companies indicating potential challenges ahead [5]. - Walgreens has cut pay for hourly workers and eliminated paid vacation time for major holidays, reflecting a shift in labor market dynamics and cost-cutting measures [18][19].