Project Description
US
S&P500 -4.60%(2,633.08); NASDAQ -4.93% (6,969.25); DJIA -4.50% (24,388.95)
This week’s reports:
November’s Unemployment Rate remained unchanged from October’s 49-year low 3.7%. Non-farm Payrolls rose by 155K from October’s +237K. Labor Force Participation was unchanged from October’s 62.9%.
November’s Average Weekly Hours fell to 34.4 from October’s 34.5. Average Hourly Earnings rose 3.1% y/y, the same as in October and their highest rate in nearly a decade.
December’s Michigan Consumer Sentiment Index (prelim.) remained unchanged at 97.5.
October’s Consumer Credit surged $25.38 billion, the biggest increase in 11 months, from September’s +$11.57 billion. October’s increase in credit was led by a surge in non-revolving debt, although revolving credit also jumped.
Q3 2018 Unit Labor Costs rose 0.9% from Q2’s +1.2%. Non-farm Productivity rose 2.3% from Q2’s +2.2%.
November’s Markit Manufacturing PMI fell to 55.3 from October’s 55.4. Services PMI rose to 54.7 from October’s 54.4. Composite PMI rose to 54.7 from October’s 54.4.
November’s ISM Manufacturing Index rose to 59.3 from October’s 57.7. ISM Non-Manufacturing Index rose to 60.7 from October’s 60.3.
October’s Factory Orders fell 2.1% from September’s +0.2%.
Initial Jobless Claims for the week ending November 30th fell by 4K to 231K. Continuing Jobless Claims for the week ending November 23rd fell by 74K to 1,631K.
- US stocks slumped as a strong jobs report failed to offset persistent anxiety over the US-China trade dispute and the weakening global economic outlook.