Marketwatch, trending stocks
Labor market data showing strong jobs and wage growth led to renewed worries of Federal Reserve monetary tightening.
The S&P 500 dropped 0.5%. The Dow industrials shed 0.2%. The Nasdaq Composite slipped 0.7%.
Tweet on stock reaction after the job reports release
Stocks are trading off their session lows!
While Treasury yields have pared some of an early climb after the monthly jobs report showed employers added 263,000 jobs in November#stocks #market pic.twitter.com/wyWgjhPS7S
— The_Journalbiz (@the_journalbiz) December 2, 2022
Factset chart on recent market fluctuation
Bond yields climbed as prices fell. The 10-year U.S. Treasury yield rose to 3.565% from 3.525% late Thursday. The yield on the two-year note recently traded at 4.330% from 4.254%.
Ulta Beauty shares were ticking higher in premarket trading on today
Ulta Beauty: The beauty-products retailer reported higher third-quarter sales and raised its full-year outlook. Its shares nudged up 1.4% premarket.
UiPath: The software company’s shares jumped 12% premarket after it issued revenue guidance for the current quarter above analysts’ estimates.
Zscaler: The cybersecurity company said that deals are taking months longer than usual to close and provided guidance slightly above analysts’ forecasts. Its shares dropped 9.5% premarket.
Smartsheet: The software-as-a-service company reported better-than-expected quarterly results and guidance. Its shares jumped 11% premarket.
Marvell Technology: The semiconductor company’s shares dropped 4.1% premarket after it reported earnings that came in below expectations.
