BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
Announced this morning, the economy added 250,000 jobs in October, much higher than expected and the unemployment rate held steady at 3.7%. Average Hourly Earnings grew 0.2% in October and has increased 3.1% on an annual basis. A strong report, with a very healthy headline number, low unemployment, and annual wage growth above 3%. With inflation levels currently in check, near the stated targets, hopefully the Federal Reserve can maintain a measured approach to tightening policy in the months ahead. Meanwhile, per recent reports, it appears President Trump and President Xi Jinping have made some progress on addressing the U.S. / China trade concerns. In all, equity futures and bond yields are higher this morning heading into the market open.
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