US Stock Market Today: Wall Street Holds Near Record Highs as Fed Rate‑Cut Bets Build (December 4, 2025)
U.S. stocks traded in a narrow range near record highs Thursday as investors weighed mixed labor data and expectations of a Federal Reserve rate cut next week. The S&P 500 hovered around 6,860, little changed, while the Dow slipped 0.1% and the Nasdaq edged lower. ADP reported private-sector job losses of 32,000 in November, the weakest since the pandemic. Markets remained largely flat in late trading.