The S&P 500 index edged up 0.1% last week as gains led by the consumer discretionary sector managed to outweigh energy-led declines. The market benchmark is down 0.2% for the month but up 16% for the year.
Investors received a mixed bag of economic data last week, including reports that had been delayed by the government shutdown.
Delayed data from the Bureau of Labor Statistics on Tuesday showed total nonfarm payrolls increased by 64,000 in November, higher than Wall Street’s view for a 50,000 gain. However, it also showed the unemployment rate ticked up to 4.6% last month, the highest since September 2021, while a partial update for the previous month revealed payrolls fell by 105,000 in October due to a sharp decline in government jobs.
US consumer prices rose less than expected on an annual basis in November, while core inflation decelerated to the lowest since early 2021, delayed government data showed Thursday.
Consumer discretionary was the strongest sector in the S&P 500, climbing 1%, followed by gains of 0.6% each in materials and health care. Technology and communication services also edged higher.
On the downside, energy fell 2.9%, followed by a 1.4% loss in real estate and a 0.9% drop in consumer staples. Industrials, utilities, and financials also edged lower.
This week’s stock trading will be shortened by the Christmas holiday. The market will close several hours early on Wednesday and will be closed all day on Thursday.
Economic data will be light amid the holiday closures, but a delayed report on Q3 gross domestic product is expected on Tuesday. December consumer confidence is also scheduled for Tuesday.
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