Market News - Summary December 8th

Market News

U.S. benchmark equity indexes closed mixed on Wednesday as traders evaluated labor market data and minutes from the Federal Reserve's December meeting.

• Index Performance:
  • The Dow Jones Industrial Average gained 0.3%, closing at 42,635.2.
  • The S&P 500 edged up 0.2%, finishing at 5,918.3.
  • The Nasdaq Composite slipped 0.1%, ending at 19,478.9.

Health care, materials, and consumer staples led the sectors with gains, while communication services saw the largest decline.

U.S. stock markets will remain closed Thursday for a National Day of Mourning in honor of former President Jimmy Carter.

• Company Highlights:

  • eBay (+9.9%): Shares soared, making it the top S&P 500 gainer, as Meta Platforms announced a test program for buyers to browse eBay listings on Facebook Marketplace. Meta shares fell 1.2%.
  • Boston Scientific (+4.3%): Shares rose after the company agreed to acquire the remaining stake in Bolt Medical for $443 million plus milestone payments.
  • Edison International (-10%): Shares tumbled as wildfires continued near Los Angeles. The company's Southern California Edison unit serves areas directly affected by the fires.
  • Moderna (-9.2%): The drugmaker saw significant losses after UBS reduced its price target from $108 to $96.

• Commodities:

  • West Texas Intermediate crude oil dropped 1.2%, settling at $73.36 per barrel.
  • Gold rose 0.6% to $2,680.60 per troy ounce, while silver gained 0.2%, closing at $30.76 per ounce.