Stocks slip after delayed jobs figures paint weak picture of economy: Live updates

Stocks fell slightly on Tuesday as traders digested the delayed release of the November’s jobs report.

The S&P 500 fell 0.1%, while the Nasdaq Composite pulled back about 0.2%. The Dow Jones Industrial Average hovered around the flatline.

November’s jobs report came in better than expected, showing an increase of 64,000 jobs for the month, according to the Bureau of Labor Statistics. Economists surveyed by Dow Jones predicted that nonfarm payrolls would grow by 45,000 in the period.

However, the BLS reported that October shed 105,000 jobs. The unemployment rate also increased to 4.6%, which was above the Dow Jones forecast for 4.5%, raising concerns about the state of the U.S. economy.

Odds of a Fed rate cut next month didn’t change following the latest jobs figures, as the CME FedWatch Tool still showed little chance of another reduction in January. Fed funds futures traders are currently pricing in a 24% chance of a rate cut next month, the same as a day ago.

“Markets better hope this employment report is distorted because it is nothing but bad, bad news for the economy and the outlook in 2026,” said Christopher Rupkey, chief economist at FWDBONDS. “It will be a miracle if we are not headed to a recession next year. The labor market gloom has turned to doom for job seekers and Washington doesn’t have a way yet to fix it.”

The three benchmark U.S. indexes closed Monday in the red, pressured by losses in key artificial intelligence names.

Broadcom lost 5.6% during Monday’s session, while software company ServiceNow sank 11.5% and Oracle fell 2.7%. Microsoft shares also ended the session lower as investors continued to take profits from high-flying AI trades and move into other areas of the market, including health care and utilities. The U.S. stock market is still heading for a winning year with gains across each of the eleven S&P 500 sectors.