Financial Economic Outlook
Published Friday, November 5, 2021 at: 6:55 PM EDT
The stock market closed at a new record high again on positive economic fundamentals, better than expected corporate earnings reports and a bright earnings outlook. Key economic statistics released this past week indicate further profit growth is just ahead. Friday morning, the Bureau of Labor Statistics reported that 531,000 new jobs were created in October, much more than the 435,000 expected by Wall Street. Last month, the same report on new-job formation in September, was a negative surprise. New-job formation is always a volatile monthly statistic, and the pandemic has made it even less predictable, as is shown in this chart. On top of...
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