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Money Talk Podcast, Friday Jan. 4, 2019

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Landaas & Company newsletter  January edition now available.

Advisors on This Week’s Show

BRIAN KILB

MARC AMATEIS

KYLE TETTING

(with Max Hoelzl and Joel Dresang)

Week in Review (Dec. 3-7, 2018)

SIGNIFICANT ECONOMIC INDICATORS & REPORTS

Monday

No major announcements or releases

Tuesday

Markets and government offices closed for New Year’s

Wednesday

No major announcements or releases

Thursday

The four-week moving average for initial unemployment claims declined for the fourth week in a row, still hovering around 49-year lows. Labor Department data show the average level of jobless applications 38% below the 52-year average, which it has been under each week for six years. The indicator suggests continued reluctance by employers to let go of workers in a strong hiring market.

In a possible signal of economic slowdown, the ISM manufacturing index dropped dramatically in December, the third decline in four months. The survey-based indicator from the Institute for Supply Management still suggested growth in manufacturing for the 28th consecutive month but at a slower pace. Responses from purchase managers mentioned concerns about tariffs and global economic weakening.

Friday

The Bureau of Labor Statistics delivered a powerful employment report with 312,000 more jobs added in December, well above analysts’ expectations. Payrolls gained by 58,000 more than previously reported in October and November, and average hourly earnings rose at an annual rate exceeding 3% for the third month in a row, which hadn’t happened since the recession. The same report showed the unemployment rate increasing to 3.9% from 3.7% in November, but the increase largely was because more Americans entered the labor force – presumably encouraged by job prospects. At 3.9%, it was still the lowest year-end unemployment rate since 2000.

Where the Markets Closed for the Week

  • Nasdaq – 6,739, up 154 points or 2.3%
  • Standard & Poor’s 500 – 2,532, up 46 points or 1.9%
  • 10-year U.S. Treasury Note – 2.66%, down 0.08 point
  • Dow Jones Industrial– 23,432, up 370 points or 1.6%

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