US stocks close in green; Nasdaq hits record high

Most US stock indices turned higher after economic data showed a slowdown in the labor market, boosting hopes for further monetary easing while consumer expectations of an economic recession retreated.

By the end of Tuesday’s trading session, the Dow Jones Industrial Average fell 0.35%, or 154 points, to 42,233 points.

Meanwhile, the S&P 500 rose 0.15%, or 9 points, to 5,832 points. The Nasdaq added 0.8%, or 145 points, to close at 18,712 points, the highest level ever for the technology index.

In the European markets, the STOXX Europe 600 index dropped 0.55% to 517.9 points after touching 522.9 points. The rise in the technology, mining, and banking sectors offset the index’s losses.

The UK’s FTSE index declined 0.8% to 8,219 points, France’s CAC fell 0.6% to 7,511 points, and Germany’s DAX lost 0.25% to close at 19,478 points.

Japan’s Nikkei index rose 0.75%, or 298 points, to 38,903 points, while the broader Topix index rose 0.9% to 2,682 points.

As for oil, Brent Crude Dec 2024 futures inched down 0.4% (or 30 cents) to $71.12 a barrel, after touching $72.60.

Meanwhile, US WTI crude futures for December delivery dropped 0.25%, or 17 cents, to $67.21 per barrel, after touching $68.52.

As for gold, December futures increased by 0.9%, or $25.2, to $2,781.1 per ounce—the highest close ever for the most active contract.

Economic data showed that US job openings unexpectedly fell to the lowest level since January 2021, while the share of consumers who expect a recession in the next 12 months fell to the lowest level since the question was first asked in July 2022.