The group of more than 20 producers agreed to an extra 500,000 barrels per day in cuts for the first quarter of 2020, taking the total to 1.7 million bpd, or 1.7% of global demand.
54K manufacturing workers were added in November, the most in over two decades, or since 1998, as a result of about 41K GM striking workers returning to their jobs.
Following a much better than expected jobs gain in November, markets have reacted rather dramatically with bond yields and the dollar gapping higher and stocks jumping...
...since we are all conditioned by environment and career risk in short term, portfolio managers did what they are supposed to do in November to keep their bonus and job intact by buying what matters most - “EQUITIES”
Futures are back to alltime highs, enjoying a burst of trade deal optimism when first Trump said China trade deal talks were "moving right along", and then, at 1am ET, China announced it would waive import tariffs imposed last year on some U.S. soybean and pork shipments...
These are tough numbers for a so-called “populist” president who claims the stock market bull as one of his greatest achievements and much of his base is not participating in the gains.
