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Market Reactions to the JOLTS Report

Stock Market Update Tuesday December 5, 2023 Market Reactions to the JOLTS Report

The recent Labor Department report, indicating a slip in domestic job openings to a 31-month low in October, has elicited mixed responses in the stock market. This news, encapsulated in the JOLTS report, initially spurred a spike in the market, followed by a retracement, with the S&P 500 closing just below unchanged.

Stocks, contrastingly, remained subdued following Monday’s weaker performance.  In the Treasury market, both 2-year and 30-year yields decreased, settling at 4.57% and 4.3%, respectively, marking a decline of 7 and 13 basis points over the day. WTI crude oil dropped below $73 a barrel, and precious metals also experienced early losses, with silver losing 1.5% compared to gold's 1%. However, both rallied later in the day, ultimately losing 1% and 0.5%, respectively. The mining sector showed only a slight weakness overall. Meanwhile, the VIX, an indicator of market volatility, remained below 13.

SPX500 Tuesday December 5, 2023
SPX500 Tuesday December 5, 2023

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