The major averages closed mixed with mixed tech earnings ahead of next week’s interest rate decision from the Federal Reserve. The Dow Jones Industrial Average fell 31 points. The S&P 500 rose 7 points while the Nasdaq rose 51 points.

On the earnings front, Salesforce rose 3% on strong guidance for AI demand while Snowflake was down 11% even as they beat estimates due to higher spending on AI spending. Chip stocks were mixed with Nvidia up 2% while AMD was down 3%.

Interest rates were higher today even as the economy data was not good. Payroll processor ADP reported a surprising decline in private payrolls, with companies cutting 32,000 workers against an estimate from economists polled by Dow Jones that had called for growth of 40,000 in November. The 10-year Treasury yield rose more than 4 basis points to 4.10%, while the 30-year Treasury yield rose 3 basis points to 4.76%. The 2-year Treasury yield rose 3 basis points to 3.52%.

In the commodity space, oil rose a percent, but still below $60 a barrel. Gold was quiet while crypto pulled back after a big rebound the last week.

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