AllMarket Update
logoArgusDecember 02, 2020

Market Update: ACC, GPS, M, ZM

Sector(s)
Communication Services, Real Estate, Consumer Cyclical
Summary

Stocks pared early losses on Wednesday morning as investors weighed new employment data and prospects for a $908 billion emergency relief package proposed by a bipartisan group in Congress. Payroll provider ADP said that U.S. private employers added 307,000 jobs in November, down from 404,000 in October and well below the Reuters consensus forecast of 410,000. Salesforce shares fell 7% after the company announced that it would purchase business communications company Slack in a $28 billion deal. Salesforce also posted better-than-expected 3Q results, but offered disappointing earnings guidance for the fourth quarter. The Dow and the S&P were flat, and the Nasdaq fell 0.2%. Crude oil traded near $45 per barrel, while gold rose $11 to $1830 per ounce.

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