Stock Market Update

[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (-0.2%), and DJIA (+0.3%) are still mixed but sit modestly improved as the information technology sector (-0.5%) sheds some of its early loss. 

The financials sector (+0.7%) holds a solid early gain, with Coinbase Global (COIN 274.54, +11.28, +4.28%) and Robinhood Markets (HOOD 130.06, +4.11, +3.26%) once again near the top of the sector's leaderboard as Bitcoin continues to recover from Monday's slide. 

The ISM Services PMI increased to 52.6% in November (Briefing.com consensus 52.4%) from 52.4% in October. The dividing line between expansion and contraction is 50.0%, so the November reading reflects services sector activity accelerating slightly from the prior month.

The key takeaway from the report is that activity in the services sector remains in expansion mode, yet that expansion is somewhat tepid, evidenced by this low November reading that is 10 percentage points less than the 12-month average since February 2022, when it stood at 62.6%.