Market Updates
U.S. Indexes Hovered Near Record Highs as Industrial and Cyclical Stocks Gained Favor
Barry Adams
12 Dec, 2025
New York City
U.S. indexes hovered near record highs, and investors rotated into industrial and smaller cap companies.
The S&P 500 index edged up 0.1%, and the tech-heavy Nasdaq Composite inched lower 0.2% amid growing worries that returns on huge investments in AI infrastructure could lag market expectations.
The Fed's rate cut, economic projections, and 2026 rate outlook generally met investors' expectations, and investors set aside rate-hike worries for now.
Despite the Fed's soothing words about the U.S. economic health, the job market continues to cool, and delayed economic data releases are contributing to market anxieties.
Investors are bracing for sharp downward revisions to nonfarm payrolls, which could show that the U.S. payrolls are shrinking by 20,000 a month between April and October.
For now, investors bid up stocks, and the Dow Jones Industrial Average and the S&P 500 index scaled new record highs and anticipated another uptick in earnings in the holiday-spending-driven fourth quarter.
U.S. Movers
Oxford Industries extended the previous session's 22% decline by a fraction and traded at $31.06 after the apparel retailer confirmed the slow start of the holiday season.
Oxford Industries said quarterly losses expanded, driven by higher impairment charges and a challenging sales environment.
Broadcom Inc. decreased 6.5% to $379.79 despite the advanced chip designer's fiscal fourth-quarter results surpassing market expectations.
Broadcom delivered a sharp jump in revenue and earnings, driven by a surge in demand for its AI chips.
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