Major US Stock Indexes' Performance: A Mixed Bag on Friday, 12/6/2024

On Friday, December 6, 2024, major US stock indexes closed with a mixed performance, reflecting a shift in market leadership. The Dow Jones Industrial Average (DJIA) and S&P 500 Index experienced modest gains, while the NASDAQ Composite Index ended the day higher, driven by strength in technology stocks. However, certain sectors, such as materials, industrials, and healthcare, led the declines, indicating a broader market rotation.

The DJIA gained 188.94 points (+0.49%) to close at 38,778.10, while the S&P 500 Index climbed 41.63 points (+0.77%) to end at 5,473.23. The NASDAQ Composite Index, however, rose 168.14 points (+0.95%) to 17,857.02. Notably, the Dow Jones Transportation Average (DJT) and the NYSE Composite Index (NYA) struggled, falling by 125.43 points (-0.85%) to 14,932.90 and 84.99 points (+0.48%) to 17,902.25, respectively.



Among tech stocks, the PHLX Semiconductor Index (SOX) surged by 89.79 points (+1.60%) to 5,688.09, while the PHLX Gold/Silver Index (XAU) dropped by 1.07 points (-0.79%) to 133.93. Energy stocks, as represented by the NYSE Arca Oil Index (XOI), rose by 8.27 points (+0.42%) to 1,968.87.

The performance of major US stock indexes on Friday, December 6, 2024, was influenced by various factors, including earnings reports, sector-specific trends, and market sentiment. The mixed performance signals a shift in market leadership, with value and cyclical stocks outperforming growth stocks. This trend is evident in the sector performance, with materials, industrials, and healthcare leading the declines.



The uncertainty surrounding the November jobs report, which could significantly impact the Federal Reserve's December interest rate decision, also contributed to the cautious investor sentiment. Market participants priced in a 72% chance of a 25 basis point rate cut, up from 66.5% a week earlier.

Despite the mixed performance, the S&P 500 had risen 27.37% since the beginning of 2024, reaching 5,473.23 on December 6, 2024. The overall market performance reflects the ongoing rotation among sectors and the resilience of technology stocks.

In conclusion, Friday's performance of major US stock indexes was a mixed bag, with gains in some indexes and declines in others. The shift in market leadership, influenced by sector-specific trends and market sentiment, signals a broader market rotation. As investors await the November jobs report and potential Fed action, they should remain cautious and monitor sector performance closely.