“Unemployment is an integral part of the normal capitalist system” – Michael Kalecki
U.S. Unemployment falls to 50-Year Low, Easing U.S. Recession Worries
Market volatility on the heels of impeachment proceedings news pushed markets lower for the week. However, investors were buoyed by the U.S. unemployment report, which showed unemployment fell to a 50-Year low, leading global markets upward to close Friday.
Further talks between the U.S. and China were held, but reports indicate there was little, if any, movement toward a trade truce.
The increase in market volatility has led to increased analyst expectation of a U.S. Fed rate cut next Wednesday. It is expected – and hoped – that a rate cut will help to calm the choppy waters caused by the ongoing trade spat.
Weekly Update – By The Numbers
| North America | Friday Close | Weekly Change | Weekly Change (%) | YTD Change (%) |
| Canada – S&P TSX Composite | 16,449 | -245 | -1.47% | 14.84% |
| USA – Dow Jones Industrial Average | 26,573 | -247 | -0.92% | 13.92% |
| USA – S&P 500 | 2,952 | -10 | -0.34% | 17.75% |
| USA – NASDAQ | 7,982 | 42 | 0.53% | 20.30% |
| Gold Futures (USD) | $1,510.30 | $7.31 | 0.49% | 17.53% |
| Crude Oil Futures (USD) | $53.10 | -$2.89 | -5.16% | 15.86% |
| CAD/USD Exchange Rate | $0.75 | -$0.01 | -0.66% | 2.40% |
| Europe / Asia | Friday Close | Weekly Change | Weekly Change (%) | YTD Change (%) |
| MSCI World Index | 2,154 | -22 | -1.01% | 14.27% |
| Switzerland – Euro Stoxx 50 | 3,447 | -99 | -2.79% | 14.86% |
| England – FTSE 100 | 7,155 | -271 | -3.65% | 6.35% |
| France – CAC 40 | 5,488 | -153 | -2.71% | 16.00% |
| Germany – DAX Performance Index | 12,013 | -368 | -2.97% | 13.77% |
| Japan – Nikkei 225 | 21,410 | -469 | -2.14% | 6.97% |
| China – Shanghai Composite Index | 2,905 | -27 | -0.92% | 16.48% |
| CAD/EURO Exchange Rate | € 0.68 | -€ 0.01 | -0.89% | 6.58% |
| Fixed Income | Friday Close | Weekly Change | Weekly Change (%) | YTD Change (%) |
| 10-Year Bond Yield (in %) | 1.515 | -0.16 | -9.55% | -43.68% |
Sources: Yahoo Finance, Globe Investor
This information is provided for general information purposes only. It does not constitute professional advice. Please contact a professional about your specific needs before taking any action.