The U.S. private sector also added 216,000 jobs in November, a figure that surpassed economists' expectations.
The report suggests that Friday's official employment report by the U.S. Labor Department will show even greater strength in the jobs market than analysts have forecast.
Let's look at the numbers from Wednesday for the Dow, S&P 500, and Nasdaq:
Dow Jones: 19,123.38; 1.78; +0.01%
S&P 500: 2,198.81; -5.85; -0.27%
Nasdaq: 5,323.68; -56.24; -1.05%
Now, here's a look at today's most important market events and stocks, plus a preview of Thursday's economic calendar.
The Dow Jones finished the day flat after OPEC announced it had struck a deal to cap excessive crude oil production. Shares of Chevron Corp. (NYSE: CVX) gained more than 2.5% today, and Exxon Mobil Corp. (NYSE: XOM) climbed over 2%. Today's biggest influencer on the sector was Halliburton Co. (NYSE: HAL), which saw its shares climb over 11%.
Trending: Get the Best Investing Research Today to Grow Your Money
Gold prices fell by more than 1% on Wednesday as investors continued to push into equities and the dollar continued to rally. Gold prices fell about 7% in November, the worst single month for the precious metal since June 2013. There is a lot of optimism in the markets, and gold is seen by many as a hedge or a form of security in times of pessimism. But the Donald Trump presidency has a long way to go, and we see a future where gold prices are set to rise.
The WTI crude oil price today is now near $49 per barrel. The big gains came from the November OPEC deal. Crude prices surged on reports that OPEC reached an agreement to reduce production and support prices. Traders covered short positions after Saudi Arabia announced it would reduce its production to get its cartel rival Iran to accept a deal. The cartel is trying to reach its first official production agreement since 2008 in a bid to raise global crude oil prices to at least $55 per barrel.
The WTI crude oil price today added nearly 8%, while the Brent crude oil price gained 7.9%.
The other big development today was the announcement by President-elect Trump, who says he will step away from his business ventures and focus extensively on his presidential duties. Trump has planned a conference on Dec. 15 with his family to outline his plan to remove any conflicts of interest between his duties in the White House and the global brand he has built.
The other major Trump development is that Carrier (a heating and air conditioning company) announced it would keep 1,000 jobs in the United States that it had intended to outsource. Many are wondering if Trump had a direct influence on the company's decision. It is worth noting that Carrier's owner is United Technology Corp. (NYSE: UTX), which is a major defense contractor for the U.S. government. Some are speculating the government may use leverage on firms that rely on government contracts to keep their other businesses in the United States. Others worry that any CEO who threatens to leave the United States could receive payment to stay.
When it comes to making money in the market, "getting in" early - before a stock begins to make its decisive move - is the single biggest factor to your success as an investor.
Quickly buying Apple after the June 2013 sell-off, for instance, could have doubled your money. Moving on Valeant the same day we recommended our big "negative bet" against it would've booked you a remarkably fast 700% return.
That's why we've introduced Money Morning Profit Alerts. This new, free service lets you choose what investing areas you want to follow - and makes sure you get alerted to news from that sector as soon as we publish it. It means no more waiting. No more searching. No more missing out. It's easy to get started - just go here.
Follow Money Morning on Facebook and Twitter
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.