Mumbai, Dec. 5 -- The Nasdaq rose 51.04 points (0.2%) to 23,505.14 and the S&P 500 inched up 7.40 points (0.1%) to 6,857.12, the narrower Dow edged down 31.96 points (0.1%) to 47,850.94.

Wall Street's momentum stalled as traders paused to gauge the market's short-term direction after a volatile week. Stocks dipped Monday following last week's rally, then bounced back during choppy trading midweek, largely supported by growing expectations that the Federal Reserve will cut interest rates again next week.

Investors mostly brushed off a Labor Department report showing initial jobless claims unexpectedly fell to 191,000, the lowest level since September 2022. Although the drop slightly tempered the rate-cut optimism, economists still expect...