New York's stock exchange posted gains for the second straight day after weak US labor market data. Meanwhile, Mexico's stock exchange and Asian markets closed lower. Investors eye the Fed's December meeting amid signs of labor weakening.
Stocks on the New York Stock Exchange extended gains on December 3, 2025, driven by indicators showing a cooling in the US job market, per the ADP survey. The Dow Jones Industrial Average led with a 0.86% rise, closing at 47,882.90 points. The S&P 500 climbed 0.30% to 6,849.72 points, and the Nasdaq added 0.17% to 23,454.09 units.
Jeff Roach of LPL Financial told Bloomberg: “The shaky labor market will be the focus of the Fed in its December meeting. Since the beginning of this year, when we started to observe a significant weakening of the labor market, I have believed that labor demand is weak enough for the Fed to cut rates, even this month”.
In contrast, Asian markets declined: Hong Kong's Hang Seng dropped 1.28% to 25,760.73 points, and China's Shanghai Composite fell 0.51% to 3,878 points. In Mexico, the S&P/BMV IPC fell 0.35% to 63,597.44 points, while the FTSE-BIVA lost 0.43% and closed at 1,262.17 units.
In energy, West Texas Intermediate oil rose 0.82% to $59.12 per barrel, and Brent gained 0.59% to $62.82, amid stalled US-Russia talks on the Ukraine conflict.