Rolling coverage of the latest economic and financial news
- Latest: Just 245,000 new jobs created in America last month
- Pound hits 30-month high against US dollar
- Lidl to return business rates relief
- Introduction: UK stocks highest since March
- Oil lifted by Opec deal
- UK car sales fell in lockdown
Boom. Wall Street has hit another record high.
Investors seem to be anticipating that Congress could agree the new bipartisan $908bn coronavirus aid plan produced this week, given the warning signs flashing from the jobs market.
The S&P 500 jumped to an all-time high on Friday as data showing the slowest jobs growth in six months reinforced expectations for a new fiscal stimulus bill to help revive the economy from its worst downturn in decades.
Analysts said the dismal report could spur policymakers to push harder for a stimulus bill as more than 13 million people were due to lose their government-funded unemployment benefits on Dec. 26 without quick action by Congress.
* S&P 500 HITS RECORD HIGH
米株, NYダウ
●史上最高値 更新
DOW HITS RECORD HIGH pic.twitter.com/bZvMa3mUj9
Economics professor Nouriel Roubini has shown neatly why the slowdown in US job creation is worrying:
At this rate of employment growth slowdown, job creation may be negative by Q1 of 2021 and the # of unemployed may rise again. Unless we pass a large fiscal stimulus asap! pic.twitter.com/G9BMTd0xLb
