PG&E (NYSE:PCG) says it reached a settlement with victims of the 2017 northern California wildfires and the 2018 Camp Fire which obliterated the town of Paradise, agreeing to pay them $13.5B in damages.
Stocks open with strong gains after the November employment report came in much stronger than expected; S&P +0.8%, Dow and Nasdaq both +0.9%.
Stocks racked up impressive gains after a blowout jobs report showed the U.S. economy is still going strong, as 266K jobs were added in November – much better than analysts had forecast – and the unemployment rate matched a 50-year low 3.5%.
OPEC and its allies including Russia announce an agreement to cut oil production by an additional 500K bbl/day through the end of March to 1.7M bbl/day.
Settling slightly in the green on Thursday, U.S. stock index futures advanced by 0.4% overnight, ahead of the eagerly-anticipated November jobs report.
December Consumer Sentiment (Preliminary): 99.2 vs. 96.9 consensus and 96.8 prior.Current economic conditions 115.2 vs. 111.6 prior.
November nonfarm payrolls were up 266K vs. 186K expected, and October’s gain was upwardly revised to 156K from 128K. The unemployment rate unexpectedly dipped to 3.5%.
November nonfarm payrolls: +266K vs. +186K consensus and +156K previous (revised from +128K).Unemployment rate: 3.5% vs. 3.6% consensus and 3.6% prior. The broader U6 unemployment rate fell to 6.9% from 7.0%.
A solid jobs growth number for November should be on display today after striking GM workers returned to the workforce.
5G doesn’t pose new cellphone radiation threats, according to the FCC, which spent six years reviewing the issue and receiving public feedback.
In its first comprehensive U.S. Safety Report, Uber (NYSE:UBER) reported 3,045 sexual assaults across rides in 2018, with nine people murdered and 58 killed in crashes.
Saudi Aramco (ARMCO) says it has priced its IPO at 32 riyals per share ($8.53), the top of its indicative range, but the $1.7T valuation is below the $2T Crown Prince Mohammed bin Salman initially targeted.
General Motors (NYSE:GM) and LG Chem (OTCPK:LGCLF) confirm plans to mass-produce battery cells for future battery-electric vehicles with a planned investment of $2.3B in a new joint venture.
Stocks ended slightly higher after wobbling between slim gains and losses throughout the day as they struggled to find direction.
Stocks open with mixed results, as the market tries to recoup more of its trade-induced losses from earlier this week; Dow -0.1%, S&P 500 +0.1% and Nasdaq +0.2%.
Saudi Arabia are expected to publish the initial share price of Aramco (ARMCO) today, which will list locally on the Tadawul stock exchange.
Reports out of Vienna suggest OPEC and its allies led by Russia are discussing increasing current cuts of 1.2M barrels per day by more than 400K bpd, as well as extending their agreement from March, to June or later.
Traders are closely monitoring the prospect of a Phase One trade deal with just 10 days to go before Washington is poised to impose another $156B of tariffs on Chinese goods.
Viacom (VIA, VIAB) and CBS are no more – welcome to ViacomCBS.The two media companies have completed their re-merger, scaling up against big competition to build a company housing more than 140,000 premium TV episodes and 3,600 film titles along with $13B in annual content investment.
Stocks rebounded as trade sentiment turned around following Pres. Trump’s remarks that talks with China on an interim trade deal were going “very well.”