A softer gain in hiring was expected for December, but today’s report from the US Labor Department was weaker than economists forecast. Companies added 139,000 workers last month–moderately lower vs. the 150,000 consensus point forecast via Econoday.com. That’s still a respectable gain, although it’s no match for November’s blowout surge of 243,000 new jobs in the private sector.
Ben Graham famously described Mr. Market’s psychological state from day to day as vulnerable to erratic swings of optimism and pessimism. But recent history shows that the crowd’s exhibited a mostly stable view on commodities and energy by consistently discounting these assets by relatively aggressive standards, based on a set of exchange-traded products. That was true in our last update (Aug. 22, 2019) and remains so today.
Iran disputes that it accidentally shot down Ukrainian jetliner: Bloomberg
House passes resolution to curb Trump’s war powers: CNBC
Softer growth expected in today’s Dec employment report for US: Reuters
World Bank warns that risk of debt crisis is rising: Guardian
US jobless claims fell again last week, closing in on 50-year low: MW
Upbeat consumer confidence contrasts with gloomy CEO sentiment: CNBC