“Wages, which are closely watched as a sign of inflation, gained but remained relatively subdued. Still, the overall solid numbers are expected to give the Federal Reserve the final green light to raise short-term interest rates next week,” Gold reports. “Shortly after the open, the Dow Jones Industrial Average rose 56 points, or 0.2%, to 24267. The S&P 500 added 0.3%, while the Nasdaq gained 0.7%.”
“Earlier, an agreement on Brexit divorce terms helped spur gains in global stock markets,” Gold reports. “The U.K. and the European Union reached an agreement Friday on Brexit divorce terms after six months of tense talks, opening the way for negotiations to advance on a trade deal and a post-Brexit transitional period.”
“In Germany, stocks also got a lift after the country’s largest opposition party said it would enter talks with Chancellor Angela Merkel’s conservatives over forging a new government,” Gold reports. “The DAX was up 1.1%.”
Read more in the full article here.
MacDailyNews Take: The stronger-than-expected U.S. employment report certainly bodes very well for the economy in general and for makers of coveted goods, like Apple, in particular.
Now, bring on the much-needed U.S. personal income and corporate tax reform and repatriation tax holiday!
Goldman Sachs sees U.S. unemployment rate hitting lowest level since the late-1960s – November 20, 2017
American consumer confidence soars to highest level since December 2000 – October 31, 2017
U.S. jobless claims plunge to lowest level since 1973 – October 19, 2017
U.S. economy picks up steam; second-quarter GDP up 3.0% reflecting robust consumer spending and strong business investment – August 30, 2017
U.S. consumer confidence shows Americans upbeat on jobs, economy – July 25, 2017