Stock Market Today: Indexes Mixed as Investors Assess Labor Data Ahead of Friday Payroll Report

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U.S. stock indexes were mixed on Thursday as investors digested a batch of economic data and awaited the release of the closely watched monthly employment report on Friday.The Dow Jones Industrial Average rose 0.2%, or 66 points, to 34,151, while the S&P 500 index slipped 0.1%, or 4 points, to 4,136. The Nasdaq Composite Index declined 0.4%, or 52 points, to 12,006.The mixed market action came as investors assessed a batch of economic data that provided a mixed picture of the U.S. economy.On the positive side, the number of Americans filing for unemployment benefits fell to a five-month low last week, suggesting that the labor market remains tight.However, other data showed that the U.S. economy grew at a slower pace than expected in the third quarter, and that consumer spending slowed in October.Investors are now looking ahead to the release of the monthly employment report on Friday for more clues about the health of the U.S. economy.Economists expect the report to show that the U.S. economy added 200,000 jobs in November, down from 261,000 in October. The unemployment rate is expected to remain unchanged at 3.7%.A strong jobs report could boost investor confidence and push stock prices higher. However, a weaker-than-expected report could raise concerns about the economy and lead to a sell-off in stocks.In corporate news, shares of Tesla Inc. fell 2.6% after the electric car maker reported weaker-than-expected fourth-quarter vehicle deliveries.Shares of Amazon.com Inc. rose 1.3% after the e-commerce giant announced plans to lay off more than 18,000 employees.Overall, the stock market is likely to remain volatile in the near term as investors await the release of the monthly employment report and other key economic data. However, the long-term outlook for stocks remains positive, as the U.S. economy is expected to continue to grow in 2023.

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