By Avantika Chilkoti and Alexander Osipovich. U.S. stocks and government-bond yields rose Friday after a surprisingly upbeat monthly jobs report signaled strength in the U.S. economy, offsetting some of the jitters about trade that rattled investors earlier this week. The Dow Jones Industrial Average advanced 342 points, or 1.2%, to 28020 in midday trading.
Gold prices were headed for their biggest daily loss in a month Friday after robust U.S. employment data undercut the case for haven assets. Gold for February delivery was recently down 1.3% at $1,462.20 a troy ounce on the Comex division of the New York Mercantile Exchange, which would be the largest single-day drop since November if it stays that low till the close. Employers added 266,000 jobs in November and the jobless rate fell to a 50- year low of 3.5%, matching September's...
Hiring shifts heavily to service-oriented jobs such as health care. The men and women in blue scrubs are winning out over the folks with blue collars in the U.S jobs market. The economy added 266,000 new jobs in November, led once again by the health-care industry.
This message is for all you freelancers, gig workers, lodging hosts, online sellers, consultants, independent contractors and others who are in business for yourselves:. Now is the time to make moves to lower your tax bill next April. There's good news and bad news.
OPEC says forecast for 2020 global growth remains at 3%. Concerns about a slowdown in global oil demand remained a key check on oil prices Friday, despite a decision by major oil producers to cut additional barrels next month from their production quotas. Oil prices "found support from ongoing supply cuts by the OPEC+ group of nations," but "weakening global economic growth kept the gains in check," said Fawad Razaqzada, technical analyst at Forex.com.
Top White House economic adviser Larry Kudlow said on Friday that a Dec. 15 deadline is still in place to impose a new round of U.S. tariffs on Chinese consumer goods, but President Donald Trump likes where trade talks with China are going.
* U.S. nonfarm payrolls rise by the most in 10 months. * Ulta Beauty (ULTA) jumps on quarterly profit beat. * All 11 major S&P 500 sectors trading higher. * Indexes up: Dow 1.21%, S&P 500 1.01%, Nasdaq 1.01% By Shreyashi Sanyal.
The biggest gainer this week on the Stoxx Europe 50 was Paris-listed Schneider Electric, which on Thursday said that it sold its Converse Energy Projects to Vinci Energies. It was followed by chip maker ASML Holding (ASML). London-listed miner Glencore (GLCNF) was the biggest loser on the European index, with shares down 9.7% over the course of the week.
Former vice president says he wouldn't now vote for a balanced-budget amendment. Joe Biden is broaching the "R" word: recession. In an interview with CNBC, the former vice president and current front-runner for the Democratic presidential nomination tells the network that the U.S. is in a "different place" than it was in 1995, when as a senator he voted for a balanced-budget amendment.
Argentina's in-coming Peronist government will name Columbia University economist Martin Guzman as economy minister as it grapples with high inflation and a looming debt restructuring, a source with knowledge of the situation told Reuters on Friday. President-elect Alberto Fernandez, who will come into office on Dec. 10, will formally announce his cabinet late on Friday.
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