Stocks Weaken Amid Labor Market Struggles and AI Demand Worries

Market Performance: The S&P 500 is down 0.15%, while the Dow Jones is up 0.05% and the Nasdaq 100 is down 0.49%. Stock futures are mixed due to concerns over a weaker US labor market and reduced AI demand from Microsoft.

Economic Indicators: The November ADP employment report showed an unexpected job loss of 32,000, the largest decline in over 2.5 years, raising concerns about the labor market and increasing expectations for a Fed interest rate cut.

Corporate Earnings: Q3 earnings season is concluding with 83% of S&P 500 companies exceeding forecasts, resulting in a 14.6% rise in earnings, significantly above the expected 7.2% increase.

Stock Movements: Chipmakers like Microchip Technology and Marvell Technology are seeing gains, while Microsoft and Pure Storage are among the notable losers due to disappointing forecasts and reports.