--- title: "Stock Market Today: December 4, 2023" description: The U.S. stock market may well encounter some resistance at the opening bell this morning, as a new week on Wall Street begins. In the days ahead, investors will get a closer look at the nation’s employment situation. Also, a handful of widely watched corporations will be posting quarterly profit reports this week. image: https://investor.valueline.com/hubfs/social-suggested-images/iStock_000006488152XSmall-358.jpg --- [![The Value Line Blog](https://investor.valueline.com/hubfs/VL%20Blog%20Images/vl_blog_header.png)](https://investor.valueline.com/blog) [Stock Market Today](https://investor.valueline.com/blog/topic/stock-market-today) # Stock Market Today: December 4, 2023 December 4, 2023 The U.S. stock market may well encounter some resistance at the opening bell this morning, as a new week on Wall Street begins. In the days ahead, investors will get a closer look at the nation’s employment situation. Also, a handful of widely watched corporations will be posting quarterly profit reports this week. As we were publishing this update, the S&P 500 Index futures were off roughly 15 points (down 0.35%) in pre-market trading. Investors will receive a number of economic reports over the next few days. However, the main event will take place on Friday morning when the government releases the November employment report. Most analysts expect the numbers will show that roughly 190,000 non-farm jobs were added to the domestic economy during the month, with the unemployment rate remaining steady at just under the 4% mark. In addition, investors will be looking carefully at hourly wages for confirmation that inflation in this crucial category is moderating. Next week, the FOMC (Federal Open Market Committee) is slated to hold its final meeting of 2023, which will conclude with an interest-rate decision and prepared remarks from Chairman Jerome Powell. Most investors do not expect that the Fed will lift rates at this time, as the current monetary policy appears appropriate, and further tightening could usher in an unwanted slowdown. On a related note, economists remain mixed about the outlook for 2024, with some even anticipating rate cuts during the year. Meanwhile, investors will have a small batch of corporate profit reports to sift through this week. Tomorrow, we will hear from auto parts retailer [AutoZone (AZO)](https://research.valueline.com/research#sec=company&sym=AZO) and home builder [Toll Brothers (TOL)](https://research.valueline.com/research#sec=company&sym=TOL). On Wednesday, food company [Campbell Soup (CPB)](https://research.valueline.com/research#sec=company&sym=CPB) will post its numbers. On Thursday, [Broadcom (AVGO)](https://research.valueline.com/research#sec=company&sym=AVGO), a maker of analog semiconductor devices, and [Lululemon Athletica (LULU)](https://research.valueline.com/research#sec=company&sym=LULU), a producer of athletic wear, will weigh in with their reports. The stock market has staged an impressive advance over the past month. The S&P 500 Index is now near 52-week-high territory, and hovering around the 4,600 level. From a technical perspective, this area corresponds to a large round number, and could hold “psychological” significance with investors. As a result, the market could hit resistance here, and several attempts may be needed to push equities meaningfully higher. On a positive note, the current rally has been fairly broad. Many more issues are at new high ground, versus those at new lows. Also, most of the major equity sectors have been making positive contributions. Looking ahead, the holiday season has finally arrived, and that could keep investor sentiment bullish through the end of the year. – Adam Rosner *At the time of this article’s writing, the author did not have positions in any of the companies mentioned.* [CLICK HERE](https://investors.valueline.com/) for more information on our services or call 1-800-VALUELINE (1-800-825-8354). Our account managers are available Monday through Friday, 8:00 AM to 6:00 PM Eastern Time. 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