U.S. Stock Futures Are Higher While November Job Growth Was Disappointing #Omicron #Employment #FDA
U.S. stock futures are higher. bJob growth in November was disappointing, with nonfarm payrolls increased just 210,000 versus expectations of 573,000. bYields on longer term treasuries are lower and futures are still up after the news. bAs cases from the new variant increases, employment growth may be adversely impacted. bJanet Yellen’s testimony yesterday further enforced Powell’s statement that inflation is no longer transitory; however, inflation expectations are anticipated to fluctuate as economic growth and more specifically employment growth issues mitigate wage growth. bOmicron is expected to muddle the outlook on inflation. bThe FDA is preparing for a quick review of omicron vaccines and cooperating with drugmakers for rapid evaluations of data points and the effectiveness of the current vaccines. bThe House and Senate approved federal funding through Feb 18 and discussions related to the debt ceiling are ongoing. bOPEC + decided to maintain its current production levels. bEuropean markets are trading higher & Asian markets closed mainly higher.