The Week's Financial News: Crosscurrents In The Economy

Published Friday, December 3, 2021 at: 10:09 PM EST

The stock market closed lower for the second consecutive week, amid concerns about the Omicron variant and a bad jobs reports. However, key economic fundamentals are booming, and the Standard & Poor’s 500 stock index is less than 4% from its all-time closing high set on November 18.  Friday morning at 8 a.m., the U.S. Bureau of Labor Statistics announced that 210,000 net new jobs were created in November, much less than the 530,000 that had been expected. The U.S. needs to create about 100,000 more new jobs than it loses every month to keep up with the expected growth rate...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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