In November, activity in the service sector exceeded economists’ expectations and alleviated concerns about a slowing economy. However, the number of job openings dropped significantly from September to October, raising concerns about a weakening labor market leading up to the November jobs report. The Institute for Supply Management (ISM) Services PMI showed improvement in November, with the Business Activity Index and other subindices experiencing growth. Anthony Nieves of the ISM noted that the services sector saw slight growth due to increased business activity and minor employment gains. The Bureau of Labor Statistics reported a decrease in job openings in October, particularly in the healthcare and social assistance, finance and insurance, and real estate sectors. The market had various reactions to the data, with the U.S. dollar experiencing a slight decline, long-term Treasury bonds extending their rally, and gold initially surging before retracing its gains. Stocks saw a slight increase following the data release.