Dow Struts Boldly into 2020 Thanks to Stellar Jobs Data, Crypto Coins News

Dow Struts Boldly into 2020 Thanks to Stellar Jobs Data, Crypto Coins News

  • The Dow jumped nearly points during the first trading day of
  • ) Strong jobs data pointed to a healthy US economy.

  • Could the United States really be recession-proof?

As the stock market ushers in its first trading day of the new year, not even the most rabid Wall Street bulls expect ‘s returns to match those from last year. But if theDow Jones Industrial Averagedoes plan to perform a 221618 encore, it took the first step in the right direction on Thursday.

Dow Surges into

All of Wall Street’s major indices raced higher during s opening session.

The Dow advanced (****************************************************************. ******************************************************************** (points or 0.) ************************************************************************** (% to) *******************************************************************************,


The Dow rallied more than 100 points during the first trading day of (**********************************************. | Source:
Yahoo Finance

The S&P (rose) **********************************************************************************. **************************************************************************** (points or 0.) ************************************************************************ (% to 3,) ****************************************************************.

The Nasdaq climbed

************************************************ . (points or 0.) ********************************************************************** (% to 9,) **********************************************************************. ********************************************************************** to round out a bullish day for US stocks.

Despite the risk-on move in equities, the gold price rallied nearly 0.5%, topping the $ 1, (mark.)

Tight Labor Market Points to Strong Consumer Economy

The Dow’s New Year’s bounce accompanied a stellar batch of jobs data, which showed that the US labor market remains tight heading into the economy’s third calendar decade of expansion.

Following two straight weeks of worse-than-expected jobless claims,initial unemployment filings fell to 222,

last week, meeting economist estimates.**********

US jobless claims fell for the third consecutive week. | Source:
Trading Economics.

The less-volatile four-week moving average climbed to its highest level in two years, but this figure should decline sharply once outlier data tinged by the late Thanksgiving holiday cycles out next week.

Meanwhile, new data from Challenger, Gray & Christmas Inc. reveals that year-over-year job cuts plunged (***************************************************************************% in December. The (****************************************************************************, ********************************************** (firings was the lowest number since July (************************************************.

Altogether, was a bad year for firings. The

************************************, announced job cuts statistic was the largest since 2015

– and the third-highest total of the decade. But the sharp decline in December job cuts suggests that cooling trade tensions, coupled with stable – if unspectacular – economic growth augur a brighter labor market forecast.********************

“Confidence was high heading into the last month of the year,” Andrew Challenger, vice president of the staffing firm, said. “With some decisions occurring in the trade war and strong consumer spending in the fourth quarter, companies appear to be taking a wait-and-see approach as we head into 221622. (

) ***************************

Labor market health points to strength in US consumer spending, which has fortified the economy against recession warnings even as the trade war and slowing growth have pummeled the once-mighty manufacturing sector.

Goldman Sachs: US Economy Safe from Traditional Recession Triggers

according to Goldman Sachs, theUS economy may be as recession-proofas it’s ever been. Writing in the final days of 2019, a team of Goldman economists declared that none of the traditional recession triggers appears to be a major concern.


While new risks could emerge, none of the main sources of recent recessions – oil shocks, inflationary overheating, and financial imbalances – seem too concerning for now. As a result, the prospects for a soft landing look better than widely thought.

To be sure,new threats will likely emerge. But for now, Goldman says the economy seems poised to enjoy a “soft landing” – (not a hard crash.

This article was edited by (Sam Bourgi) ****************************************************************

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