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By Staff Reporters
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Happy 30th birthday to texting! On this day 30 years ago, the first SMS message was sent.
U.S. equities were mixed and ended near the starting line as investors digested the highly anticipated November labor report which showed stronger-than-expected job growth.
Nonfarm payrolls, private sector payrolls, and average hourly earnings all rose more than estimates, while the unemployment rate remained at October’s level. The report seemed to temper market expectations for a less aggressive Fed in the near-term, as hopes for such intensified earlier in the week after Fed Chair Powell suggested that the Central Bank could slow the pace of its tightening campaign as early as this month.
Treasury yields diverged following the data, and the U.S. dollar dipped, while crude oil prices decreased in choppy trading, and gold pulled back from yesterday’s solid rise.
Earnings reports continued to trickle in, with Marvell Technology falling short of expectations on both the top and bottom lines and slashing its guidance, while Ulta Beauty trounced the Street’s forecasts amid soaring same-store sales growth. In fact, ULTA posted splendid third-quarter fiscal 2022 results, with the top and the bottom line cruising past the Zacks Consensus Estimate and increasing year over year. The company witnessed growth in all major categories and in all its store and digital channels. Ulta Beauty also saw a higher market share in prestige beauty compared with the year-ago period.
The labor report dominated today’s economic calendar, but next week will introduce some notable releases, including December’s Producer Price Index, reads on the services sector, consumer sentiment, and more.
Asian stocks finished with broad losses, and European stocks ended mixed, as the global markets searched for some clarity on China’s latest moves regarding its COVID-related restrictions.
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Filed under: Investing, Information Technology, Alerts Sign-Up, LifeStyle | Tagged: stocks, SMS, stocks mixed, ulta, ulta beauty, anniversary SMS anniversary |
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