Key Takeaways
- The S&P 500 edged less than 0.1% higher on Tuesday, Dec. 3, as an unexpected uptick in job openings suggested strength in the labor market.
- Palantir Technologies jumped after the software firm said it had received FedRAMP High Authorization for its full lineup of cloud offerings.
- Microchip Technology announced a plant closure and restructuring plan, and shares of the chipmaker tumbled.
Major U.S. equities indexes were mixed as fresh data showed an uptick ꧂in jo🐎b openings and a slowdown in layoffs in October, signaling resilience in the labor market. Jobs are set to remain in focus this week, with the November employment report 澳洲幸运5官方开奖结果体彩网:scheduled for release Fri✨day morning.
After trading in negative territor🃏y for much of the day, the S&P 500 recovered in the afternoon to end with a gain of less than 0.1% and eke out its third consecutive closing high. The Nasdaq was up 0.4%, also reaching a record close, while the Dow slid 0.2%.
Shares of big data analytics software provider Palantir Technologies (PLTR) soared 6.9%, the top performance in the S&P 500 on Tuesday. Palantir announced that it had received authorization for its cloud services under FedRAMP, a government initiative aimed at implementing secu𒊎re cloud computing operations across government agencies. The authorization covers Pa꧃lantir's full range of product offerings, positioning the firm to provide an array of services to government entities.
Axon Enterprise (AXON) shares jumped 5.3% after Morgan Stanley upgraded the stock to "outperform" and boosted its price target. Analysts believe the maker o💛f Taser devices, body cameras, and other law enforcement equipment could build upon its growth trajectory 🌌as artificial intelligence (AI) offerings help drive upsell opportunities and encourage the adoption of premium product packages.
AT&T (T) shares added 4.6% after the telecom giant laid out an 澳洲幸运5官方开奖结果体彩网:ambitious strategic plan that includes returning more than $40 billion to shareholders through dividends and buybacks over the next three years. The company also said it will enhance its fiber network for broadband internet and its 5G wireless netwo🍌rk, suggesting these investments should driv♑e stronger shareholder returns.
Integrated circuit manufacturer Microchip Technology (MCHP) reduced its sales outlook for the third quarter while announcing plans ജto close its wafer fabrication facility in Arizona and cut around 500 jobs. The firm expects these moves to result in significant near-term restructuring costs. Microchip shares fell 7%, losing the most of any S&P 500 stock.
Intel (INTC) shares slipped 6.1% on Tuesday, extending losses posted in the prior session after the semiconductor giant announced the 澳洲幸运5官方开奖结果体彩网:retirement of CEO Pat Gelsinger. According to a report by Reuters, former board member Lip-Bu Tan 🌳is among those being considered for the top leadership role. A final decision on who will take the ⛄helm of the company is expected in the next few weeks.
Shares of On Semiconductor (ON), a chipmaker focused on the automotive and industrial en🥂d markets, sank 5.6%. Analysts at Wells Fargo noted that sentiment remains negative in the industrial areas of the semiconductor market and highlighted concerns about a potential flattening in automotive chip markets during 2025.