Sou Hu Cai Jing·2025-12-03 23:12Market Overview - The U.S. stock market showed a strong recovery on December 3, with all three major indices closing higher after initially declining. The Dow Jones Industrial Average rose by 408.44 points to close at 47,882.9, a gain of 0.86%. The S&P 500 increased by 20.35 points to 6,849.72, up 0.30%, while the Nasdaq Composite gained 40.417 points, closing at 23,454.092, a rise of 0.17% [1] Employment Data - The ADP reported a decrease of 32,000 private sector jobs in November, contrasting with a revised increase of 47,000 jobs in the previous month and market expectations of a 20,000 job increase [1] - The U.S. Secretary of Commerce attributed the poor employment data to factors such as the federal government shutdown and large-scale deportations of illegal immigrants, rather than tariffs imposed by the Trump administration [1] Federal Reserve Outlook - Scott Welch, Chief Investment Officer at Certuity, anticipates that the Federal Reserve will likely cut interest rates again in the upcoming week, regardless of the latest employment data [2] - Michael Feroli, Chief Economist at JPMorgan, emphasized the growing importance of the softening labor market as 2026 approaches, noting a continued slowdown in labor supply and demand. He expressed concerns about the net growth of jobs due to increasing layoffs [3] Economic Indicators - The ISM reported that the non-manufacturing index for November was 52.6, exceeding market expectations of 52.1 and the previous month's 52.4. However, the final data from S&P Global indicated that the services index for November was 54.1, below the initial estimate of 55 and the previous month's 54.8, marking the lowest level since June [3] Company Performance - Macy's reported a net profit of $11 million for Q3 of fiscal year 2025, significantly down from $28 million in the same period last year. The company's net sales for the quarter were $4.713 billion, a year-on-year decrease of 0.6%, although comparable store sales increased by 2.5% [4] - Dollar Tree exceeded market expectations in its Q3 earnings report and raised its performance outlook for the fiscal year, resulting in a stock price increase of 3.61% [4]