Another deluge of record intraday/close doubles on Wall Street (the 3rd consecutive record for the 2 main indices), with the S&P500 (+0.25% to 6,090 and 6,100 at its highest) followed by the Nasdaq (+0.8% to 19,860 and 19,863 at its highest)... and the VIX, with -5.6%, sinks symmetrically into the zone of complacency at 12.70 (one of its highest scores of the year).

The S&P500 gains +1% over the week, the Nasdaq stands out with +3.35%.
The Dow Jones is down 0.28% and -0.5% over the past week.

The eagerly-awaited monthly report from the US Department of Labor (the 'NFP') was rather reassuring and kept the 'full risk-on' alive.
The NFP (calculated by the US Department of Labor) showed 227,000 non-farm jobs in November, according to the Labor Department, a number slightly above economists' expectations, which were generally around 200,000.000.

The unemployment rate, however, rose by 0.1 points to 4.2%, where stability at 4.1% was expected, while the labor force participation rate stood at 62.5%, and average hourly earnings rose by 4% year-on-year.

Non-farm payrolls for the previous two months were also revised, from 223,000 to 255,000 for September and from 12,000 to 36,000 for October, giving a total revision balance of +56,000 for these two months.
Despite these very robust figures, T-Bonds are easing by 1Pt towards 4.1700%: the probability of a rate cut on 18/12 stands at over 70%, compared with 66% a week ago, according to the FedWatch barometer of stock market operator CME Group.

The preliminary calculation of the University of Michigan's consumer index shows a rise in confidence, to 74 this month, after 71.8 in November and 73.3 expected by economists.

While the sub-index measuring the evolution of their expectations deteriorated to 71.6, from 76.9 last month, the one assessing their judgment of their current situation jumped to 77.7, after 63.9 in October.


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