US stocks close higher as markets await Fed decision

US stocks ended higher on Thursday, as investors focused on the likelihood of a Federal Reserve interest rate cut at next week’s meeting, amid growing signs of a weakening labor market.

The Dow Jones closed flat at 47,850 points, supported by a 3.73% rise in Salesforce shares to $247.62.

The S&P 500 gained 0.11% (7 points) to close at 6,857, while the Nasdaq Composite rose 0.22% (51 points) to 23,505.

In Europe, the Stoxx Europe 600 increased 0.45% to 578.84, supported by a 6.35% jump in Renault shares to €37.01.

The FTSE 100 advanced 0.19% to 9,710, Germany’s DAX climbed 0.79% to 23,882, and France’s CAC 40 gained 0.43% to 8,122.

In Japan, the Nikkei 225 rose 2.35% to 51,028, while the broader Topix added 1.90% to 3,398.

Oil prices rose as Brent futures for February delivery increased 0.94% ($0.59), while WTI for January delivery leapt 1.22% ($0.72).

Gold futures for February delivery also gained 0.25% ($10.5) to settle at $4,243 per ounce.

Fresh data from Challenger, Gray & Christmas showed US companies announced 1.17 million job cuts from January through November, the highest level since 2020.