Friends
This morning’s release of the November non-farm payroll number showed that 64,000 new jobs were added, which was better than analysts had expected. The unemployment rate did tick up to 4.6%, which was actually more than expected. It’s hard to determine if this data would have any bearing on the January Fed meeting.
As for stocks, it was a bit of a mixed bag. For the day, the Dow Jones Industrial Average was down 302 points to close at 48,114. The S&P 500 was down 16 points to close at 6,800. The Nasdaq Composite Index was up 54 points to close at 23,111. Gold was up $4 to trade at $4,339 per ounce, while oil was down $1.60 to trade at $55.22 per barrel WTI.
The bulls don’t appear to be too enthusiastic as we move closer to year end. Maybe they are just out of gas, or maybe market participants want to see the big tech names find some footing before jumping back in. We’ll see if some sort of trend will develop in coming days. Maybe we will just cruise quietly into year end. We’ll see.
Have a nice evening everyone.
