Closing Bell: Markets Closed Mixed as Investors Pivot Back to Tech

Key Points

• Equities finished mixed as investors digested labor and retail sales data. The S&P 500 slipped 0.24%, the Nasdaq-100 gained 0.26%, and the Russell 2000 fell 0.45%
• November Nonfarm Payrolls came in more than expected with 64,000 jobs added versus 50,000 estimates
• Southwest Airlines notched its 12th straight gain after Barclays upgraded the stock to Overweight and raised its price target to $56

Markets closed mixed today as labor and retail sales data captured traders’ attention. The S&P 500 (SPX) finished down 0.24%, the Nasdaq-100 (NDX) edged higher by 0.26%, and the Russell 2000 (RUT) fell 0.45%. Information Technology, Consumer Discretionary, and Communication Services led the market, while Energy and Health Care lagged.

November Nonfarm Payrolls Exceed Expectations

The November BLS Nonfarm Payrolls report exceeded consensus expectations, with 64,000 jobs added during the month compared with estimates of 50,000. The unemployment rate ticked up to 4.6% versus expectations for 4.5%, while the labor force participation rate increased to 62.5% from 62.4%.

Southwest Airlines Extends Winning Streak

Southwest Airlines (LUV) continued its strong rally, closing higher for a 12th consecutive session. The move followed a ratings upgrade from Barclays, which raised the stock to Overweight from Equal Weight and increased its price target to $56 from $34. Barclays cited Southwest’s evolving commercial strategy, including the introduction of assigned seating and adjustments to baggage fees, as catalysts that could drive material improvements in revenue generation in 2026.

Key Market Events for Tomorrow

• 08:15 AM ET: FOMC Member Waller Speaks
• 09:05 AM ET: FOMC Member Williams Speaks
• 10:30 AM ET: Crude Oil Inventories
• 12:30 PM ET: FOMC Member Bostic Speaks
• 09:00 PM ET: President Trump Speaks

Notable Earnings for Tomorrow

• Premarket: GIS, JBL
• Postmarket: MU

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