Justin Sullivan / Getty Images
What you need to know
- The S&P 500 added 0.3% on Friday, Dec. 6, ending the week with a record close as November jobs data came in stronger than expected.
- Lululemon’s shares are surging as it beats quarterly expectations and raises its outlook for the full year.
- Crude oil prices fell as the expectation of a surplus in 2025 put pressure on stocks.
The major U.S. stock indexes ended the first quarter of 2012 with mixed returns.
In the employment report, released on Friday morning, it was revealed that U.S. job growth in November exceeded expectations. This is a sign of recovery after hurricanes in September and October’s labor dispute that affected jobs creation. This data, which also showed the resilience of the US jobs market, also increased expectations that the Federal Reserve will cut interest rates again this month.
The S&P 500 gained 0.3% on Friday, bouncing back from the prior session's decline to notch another closing high. The Nasdaq gained 0.8% but the Dow lost 0.3%.
Lululemon Athletica (LULU) shares led the S&P 500 higher on Friday, jumping 15.9% after the maker of yoga pants and other athletic apparel posted better-than-expected quarterly sales and profits. Strong performance on international markets, as well as in Canada, contributed to the company’s strong results. Lululemon increased its earnings and revenue guidance for full-year, conveying a positive tone ahead of the crucial holiday shopping season.
Hewlett Packard Enterprise’s (HPE) latest earnings report was also impressive. The company provides server, storage, and network solutions. Its IT services company exceeded both top and bottom line forecasts in its fourth quarter revenue record, with artificial intelligence server demand being a major sales driver. Citi analysts raised Hewlett Packard Enterprise’s stock price to $9.99 in response to the company’s strong performance. “buy” The following is a list of the most recent and relevant articles. “neutral” They raised their target price, citing an optimistic outlook in terms of demand for standard servers as well as the enterprise network market. HPE’s shares soared by 10.6% Friday.
Ulta Beauty also surpassed consensus earnings per share estimates and revenue with its most recent quarterly results. Its stock price rose 9%. Ulta’s results this year have been affected by increased competition as well as a softening in demand for makeup and skincare. Executives, however, said that they had made progress to solidify the company’s market positioning through initiatives such as events at stores, digital tools, or new brands. Ulta, however, expressed caution regarding the holiday season. It suggested that shoppers remain concerned about value, as they navigate through economic uncertainty.
Shares of UnitedHealth Group (UNH) tumbled 5.1%, falling the most of any S&P 500 stock on Friday, as the hunt continues for the gunman who fatally shot Brian Thompson, CEO of the company’s health insurance unit, earlier this week. Conversations have been prompted by the killing about the complexity of the U.S. insurance system. Additionally, other stocks in the health insurance sector also declined.
Cooper Companies’ (COO), a medical device manufacturer, beat analysts’ expectations for its quarterly EPS, however, softer demand for contact lens contributed to a small revenue shortfall. Its shares fell 4.4%.
Analysts reduced the price of oil futures as they pointed to a possible surplus condition in 2025. They also predicted that soft demand would persist even if major producers continued to cut production. Prices fell, which put pressure on oil and gas stock prices. Halliburton, a provider of oilfield service providers (HAL), saw its shares drop 4.1%. Diamondback Energy (FANG), meanwhile, dropped 3.4%.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
