The Morning View: December 7, 2018

  • December 7, 2018

BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611   mbartlett@argenttrust.com

Announced this morning, the economy added 155,000 jobs in November, less than forecasts. The unemployment rate held steady at 3.7% and Average Hourly Earnings, a measure of wage growth, grew 3.1% on an annual basis. Despite a lower than expected headline number, the firm labor market appears intact as decent underlying wage growth remains. The Federal Reserve will continue to monitor impacts of the firm labor market on inflation, which is still near their stated targets, as they adjust their interest rate policy in the months ahead. Uncertainty regarding interest rate policy and the trade negotiations between the U.S. and China should be primary drivers of markets in the nearterm. Following the report, equity futures turned higher after being lower earlier in the session.

This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.