Morning Market Report - December 6, 2019
Jobs Number Beats Expectations at 266K for November
Nonfarm payrolls surged by 266,000 in November, better than the 187,000 expected by economists polled by Dow Jones.
The unemployment rate ticked down to 3.5% from 3.6%, back to the 2019 low and matching the lowest jobless rate since 1969.
The end of the GM strike had a big effect, boosting employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing.
Average hourly earnings rose by 3.1% from a year ago, slightly above the 3% expected by economists polled by Dow Jones.
The unemployment rate ticked down to 3.5% from 3.6%, back to the 2019 low and matching the lowest jobless rate since 1969.
The end of the GM strike had a big effect, boosting employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing.
Average hourly earnings rose by 3.1% from a year ago, slightly above the 3% expected by economists polled by Dow Jones.
Markets Trade Higher on the Jobs Number
Gold Trades Lower this Morning
Crude Oil
TSLA gets upgrade at Morgan Stanley
Morgan Stanley increased its “bull case” for Tesla to $500 a share on Thursday, in the firm’s calculation of a best case scenario for the company’s value if Cybertruck is successful and the new factory in China exceeds expectations.
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Don't forget to subscribe to our YouTube Page for easy access to all our programs!
Tommy O'Brien
TFNN