Job growth was better than expected in December; average hourly earnings grow 4.1%, outpacing inflation; services sector slows as consumers shift spending; FDA approves Florida plan to import Canadian prescription drugs.
Bankruptcies rose 18% in 2023; Red Sea attacks are causing spikes in transport costs; private employers added 164,000 jobs in December; Carrefour supermarket chain pulls PepsiCo products due to price increases.
Stocks fall; job openings have been falling over the last two years; Fed minutes show members think interest rates are at or near peak; manufacturing sector contracts.
November job openings totaled 8.8 million, little changed from October; Richmond Fed’s Barkin says no timetable for rate cuts; Maersk, Hapag-Lloyd pause Red Sea shipping again; Buffett tops list of charitable giving in 2023.
Barclays says Apple sales are likely to be sluggish; many EVs lose $7,500 tax credit; McKinsey agrees to near $80 million opioid settlement; nearly half the states implement minimum wage increases.
S&P 500 is set for a gain of almost 25%; Nvidia stock this year benefited from AI excitement; mortgage rates fall to 6.6%, Freddie Mac says; U.S. extending tariff suspension on EU metal imports.