The Economic Times·2025-12-05 01:58Market Overview - U.S. stocks closed near unchanged as investors assessed labor market reports and economic data, with expectations for a Federal Reserve interest rate cut next week [6][7] - The Dow Jones Industrial Average fell by 31.96 points (0.07%) to 47,850.94, while the S&P 500 gained 7.40 points (0.11%) to 6,857.12, and the Nasdaq Composite increased by 51.04 points (0.22%) to 23,505.14 [6][7] Labor Market Indicators - Initial jobless claims dropped to their lowest level in over three years, although this decline may be influenced by the Thanksgiving holiday [6][7] - The Chicago Fed estimated the unemployment rate remained around 4.4% in November [6][7] - Markets are pricing in an 87% chance of a 25 basis point rate cut this month, up from 68.6% a month ago [6][7] Company Performance - Kroger's shares fell by 4.6% after the supermarket chain narrowed its annual sales forecast and missed quarterly sales estimates [4][7] - Dollar General's stock surged by 14% following an increase in its annual profit forecast [4][7] - Snowflake's shares tumbled by 11.4% after the company provided a fourth-quarter product revenue forecast below investor expectations [4][7] - Salesforce's stock rose by 3.7% after raising its fiscal 2026 revenue and profit forecasts, driven by strong demand for its AI platform [6][7] - Meta Platforms increased by 3.4% after reports of planned cuts to its Metaverse budget [6][7] - Hormel Foods advanced by 3.8% after forecasting annual profit above estimates [4][7] Market Activity - Advancing issues outnumbered decliners by a ratio of 1.06-to-1 on the NYSE and 1.39-to-1 on the Nasdaq [5][7] - The S&P 500 recorded 31 new 52-week highs and five new lows, while the Nasdaq Composite saw 114 new highs and 52 new lows [5][7] - U.S. exchanges had a trading volume of 15.13 billion shares, compared to the 17.98 billion average over the last 20 trading days [5][7]