Stocks Soar to New Highs on Strong Jobs Report and Positive Market Momentum

The S&P 500 and Nasdaq reached new highs as stocks closed higher following a strong jobs report and an increase in consumer sentiment. The U.S. added more jobs than expected in November, and the unemployment rate edged down. The reports add to the economic data the Federal Reserve will consider at its policy meeting next week. In other news, Honeywell agreed to acquire Carrier's security unit for nearly $5 billion, and reports suggest that film producer David Ellison and private equity firm RedBird Capital Partners may attempt to acquire a controlling stake in Paramount Global. Crypto stocks have outperformed the "Magnificent 7" tech firms this year, and Lululemon hit a record high despite giving a soft forecast for the holiday shopping season.