E US Stock Market Weekly Update January 6-January 10, 2020

The US stock market in 2019 had a stellar year with all major stock market indexes having significant gains. With 2020 just having started, what will it bring for stocks and their valuation?

The latest US jobs report for December 2019 released on Friday, January 10, 2020 was mixed for the US economy.

“The U.S. labor market capped off 2019 with fewer than expected job gains and decelerating wage growth. The joblessness rate, however, held at a 50-year low. Here were the main results from the Department of Labor’s report Friday compared to consensus estimates compiled by Bloomberg:

Change in non-farm payrolls: +145,000 vs. +160,000 expected and +256,000 in November

Unemployment rate: 3.5% vs. 3.5% expected and 3.5% in November

Average hourly earnings, month on month: +0.1% vs. +0.3% expected and +0.3% in November

Average hourly earnings, year on year: +2.9% vs. +3.1% expected and +3.1% in November”

                                                                                                                                Source: Yahoo Finance

Latest geopolitical tensions between US and Iran had little and short-lived impact on stocks and the risk sentiment as well. As we are heading later this year to the presidential elections the chance of President Trump being reelected and the earnings season, which will soon start will add volatility to the stock market.

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Disclosure: I have no position in any stock mentioned

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