Stocks End Mixed As The Market Hits Pause Ahead Of This Week's Jobs Numbers

Market Moves You Need to See Stocks End Mixed As The Market Hits Pause Ahead Of This Week's Jobs Numbers [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks End Mixed As The Market Hits Pause Ahead Of This Week's Jobs Numbers [Stocks End Mixed As The Market Hits Pause Ahead Of This Week's Jobs Numbers]Image: Bigstock The big three indexes closed mixed yesterday with the Dow and the S&P moderately lower, while the Nasdaq finished moderately higher. But Monday's outsized gains in the small-cap Russell 2000 and the mid-cap S&P 400 were undone yesterday as they were down -1.38% and -1.34% respectively. Yesterday's PMI Composite report came in at 50.7, unchanged from last month. The Services Index came in at 50.8, which was in line with the consensus, and up vs. last month's 50.6. The ISM Services Index rose to 52.7 vs. last month's 51.8 and views for 52.4. The Job Openings and Labor Turnover Survey report (or JOLTS for short) showed 8.733 million job openings for October vs. 9.350M for September and estimates for 9.4M. Today we'll get MBA Mortgage Applications, the International Trade in Goods and Services report, and the Productivity and Costs report. We'll also get another look at the labor market with the ADP Employment Report. They are forecasting 123,000 new private payroll jobs were created last month in November. This is often looked at as a precursor to the official Employment Situation report that follows two days later (on Friday) by the Bureau of Labor Statistics (BLS). Although, it should be known that the ADP report has a spotty track record of predicting what the BLS report will say. Nonetheless, today's ADP report will be looked at closely. But Friday's Employment report by the BLS is the report everyone is waiting for. At the moment, the consensus is calling for 180,000 new jobs in November (150,000 in the private sector and 30,000 in the public). We'll see what today's ADP report says first. After Friday's jobs report, then the main event is next week's FOMC announcement on 12/13. Even though the Fed has said it's 'premature' to talk about cutting rates at this time, they previously estimated that they would cut by -50 basis points next year, while the market is pricing in -125 basis points. So all eyes will be on the Fed next week. In the meantime, the Q4 rally is intact (last couple of days notwithstanding). And the seasonal trends suggest there's still more to go in the remaining 3½ weeks left in the year. So make sure you're taking full advantage of it. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [Ultimate Access is Only $1.]( Capitalize on today's market by seeing all the private trades hidden from the public on Zacks.com. These trades are produced by the coveted system that's more than doubled the S&P 500 since 1988 with a whopping average gain of +24.0% per year. Starting today, for one month, you can follow these exclusive portfolios in real time from value to income . . . from best stocks under $10 to insider trades to companies that are about to report earnings (we've predicted positive surprises with more than 82% accuracy). Total cost $1, and not a cent of further obligation. [See Stocks Now »]( Most Popular Articles from Zacks.com [Top 5 Non-Tech Nasdaq Composite Winners With More Upside Left]( We have narrowed our search to five non-tech stocks that have provided more than 40% returns year to date with more potential for growth. [Read More »]( [AT&T (T) Picks Ericsson for Network Revamp: Ominous for Nokia?]( In a radical move that could redefine the sector dynamics, AT&T has inked a five-year contract with Ericsson to modernize its network infrastructure. [Read More »]( [5 Top-Ranked Stocks Pushing S&P 500 to 2023 Peak]( Each of these stocks has a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a Momentum Score of A or B. [Read More »]( [2 Insurance Stocks Poised for New 52-Highs in December]( After hitting 52-week highs last week, both stocks look poised to keep rising through 2023. [Read More »]( [High-Quality ETFs for Long-Term Investors]( As solid stocks tend to perform well during periods of economic downturns, high-quality ETFs have attracted a lot of cash this year. [Read More »]( [Your Exclusive Access to Today's Top ETFs]( Use Zacks ETF Rank to help you select the very best ETFs for your portfolio. This quantitative ratings system takes into account asset class forecasts as well as several ETF-specific factors. All to give you a comprehensive account of a fund's potential before you invest your money. [See Today's Top-Ranked ETFs »]( [Bull of the Day: The Progressive Corp. (PGR)]( Progressive snapped a streak of negative surprises in its latest release, exceeding the Zacks Consensus EPS Estimate by more than 20%. [Read More »]( [New Zacks Strong Buys for December 6th]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( More Zacks Resources Mobile App Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com. [Download our Zacks App for Apple iOS]( [Download our Zacks App for Android]( Zacks Members' Success Stories Visit [Success Stories]( to hear how Zacks research, tools and portfolios help our members outperform the market. Get all of our market insights and much more when you connect with us. [Visit Zacks on Facebook]( [Follow Zacks on Twitter]( [See Zacks videos on YouTube]( [Join Zacks on LinkedIn]( [Read Zacks Commentary on StockTwits]( This free resource is being sent by [Zacks.com](. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms of Service". [www.zacks.com/terms_of_service]( Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through October 2, 2023. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit [( for information about the performance numbers displayed above. Zacks Emails If you would prefer to not receive future profit-producing emails from [Zacks.com]( the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please [click here]( and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com. Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606