On the Last Trading Day of 2023, Looking Ahead to Jobs Week

From Nasdaq:

The stock market was flat for the second day in a row as the last trading day of 2023 approached. Despite it being a record year for the stock market, markets didn’t see significant gains. The top-performing stock was the Nasdaq 100, which was up 56% for the year so far, with the Nasdaq overall up 44%.

With the year nearly over, the S&P 500, Russell 2000, and Dow numbers were shared. The S&P 500 was up 25% for the year, Russell 2000 up 18%, and the Dow up 14%. All numbers were up from previous years, but not as high as 2021’s numbers. The Dow is at record highs, and the S&P is close to reaching new all-time highs.

Looking ahead to 2024, Jobs Week will provide a better understanding of how the labor market is doing. The Job Openings and Labor Turnover Survey (JOLTS) is predicted to show 8.7 million available jobs. Private-sector payrolls from Automatic Data Processing (ADP) plateaued around 100K per month. The Unemployment Rate’s latest figure was 3.7%, showing stable growth.

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