US jobs report; Huawei fallout; OPEC crunch

1. US jobs report: The US economy added 155,000 jobs in November, fewer than expected by ec...

Posted: Dec 7, 2018 1:00 PM
Updated: Dec 7, 2018 1:00 PM

1. US jobs report: The US economy added 155,000 jobs in November, fewer than expected by economists.

However, the unemployment rate remained at 3.7%, indicating a strong labor market. Paychecks grew by 3.1% over the last year in November, in line with expectations.

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Employers have added an average of 215,000 jobs per month over the past year and wages have been slowly creeping higher as the economy has soaked up nearly all its available workers.

2. Huawei fallout: Huawei CFO Meng Wanzhou, who was detained in Vancouver on Saturday at the request of US authorities, faces a bail hearing on Friday at the British Columbia Supreme Court.

The US and Canadian governments haven't specified what charges Meng faces, but her arrest follows reports this year that the US Justice Department was investigating whether Huawei violated American sanctions on Iran.

The United States is seeking her extradition.

The arrest has angered Beijing, alarmed investors and raised new doubts about the fragile truce that the leaders of the world's top two economies reached just days ago. Investors will be watching closely for additional fallout.

Huawei, which makes telecommunications equipment and tech gadgets, said in a statement that it "has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng."

3. Oil moves: OPEC wasn't able to reach agreement on oil production cuts during a summit on Thursday. But the cartel is expected to finish the job on Friday.

OPEC is seeking to stabilize oil markets after US crude prices plunged 22% in November, marking the the worst month since the global financial crisis in October 2008.

Discussions on Friday will be expanded to include Russia, the world's second biggest oil producer and a key partner in OPEC efforts to slash production and boost prices.

Oil prices tumbled 2.7% on Thursday when OPEC members emerged from negotiations without consensus on the level of production cuts. Prices dipped again on Friday to trade at $51.30 per barrel.

4. Global market overview: US stock futures were pointing lower. European markets opened higher, following a mixed trading session in Asia.

The Dow closed down 0.3% on Thursday after a wild trading day. It plunged as much as 785 points, or 2%, during the day. The S&P 500 shed 0.2%.

The Nasdaq gained 0.4%, bouncing back from a 2.4% drop earlier in the day.

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5. Earnings and economics: Big Lots (BIG) will release earnings before the open.

The preliminary University of Michigan's consumer sentiment report for December will be released at 10:00 a.m. ET.

Canada's jobs report for November will be published at 8:30 a.m. ET.

6. Coming this week:
Friday — US jobs numbers

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 489116

Reported Deaths: 6614
CountyCasesDeaths
Hennepin1014901592
Ramsey43327810
Dakota36619394
Anoka33496391
Washington22208262
Stearns18822202
St. Louis14887265
Scott13403107
Wright12609116
Olmsted1185990
Sherburne878574
Carver787641
Clay695588
Rice677691
Blue Earth601035
Kandiyohi581274
Crow Wing523582
Chisago501745
Otter Tail486071
Benton450990
Winona419749
Mower410831
Douglas394568
Goodhue389069
Nobles387247
Polk345063
McLeod341250
Beltrami338951
Morrison327747
Becker314842
Itasca314646
Lyon313845
Isanti309456
Steele303611
Carlton300449
Freeborn286424
Pine283216
Nicollet262441
Todd249730
Brown248237
Le Sueur238120
Mille Lacs229447
Cass221224
Waseca210417
Meeker208134
Martin190829
Wabasha18733
Roseau181017
Hubbard161041
Houston158214
Dodge15404
Renville152640
Redwood147127
Fillmore13969
Pennington138716
Chippewa136935
Cottonwood136020
Wadena131420
Faribault124917
Aitkin119133
Sibley118310
Watonwan11828
Rock116314
Kanabec108820
Pipestone101824
Yellow Medicine97717
Murray9548
Jackson94610
Swift87818
Pope8165
Marshall78615
Stevens7478
Lake74218
Clearwater72014
Lac qui Parle68716
Wilkin67711
Koochiching62111
Big Stone5173
Lincoln5122
Grant4928
Norman4798
Unassigned44768
Mahnomen4437
Kittson41021
Red Lake3615
Traverse3115
Lake of the Woods2221
Cook1190

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 337676

Reported Deaths: 5494
CountyCasesDeaths
Polk52087560
Linn19512317
Scott17167212
Black Hawk14970293
Woodbury13847214
Johnson1317075
Dubuque12450196
Dallas1022593
Pottawattamie9897146
Story965045
Warren514976
Clinton502684
Cerro Gordo501383
Webster495788
Sioux480369
Marshall465273
Des Moines428461
Muscatine426393
Buena Vista413237
Wapello4059110
Jasper387767
Plymouth368978
Lee354653
Marion341571
Jones285155
Henry279837
Bremer270555
Carroll266948
Crawford253635
Boone244330
Benton241154
Washington239547
Mahaska215746
Jackson210339
Dickinson204240
Tama203065
Kossuth198655
Delaware186240
Clay184425
Winneshiek183628
Fayette179335
Page178119
Buchanan177829
Wright174531
Hamilton173942
Cedar172723
Hardin170239
Harrison167670
Clayton160254
Butler159331
Mills148520
Floyd148141
Poweshiek148030
Cherokee146236
Lyon145741
Allamakee144848
Madison143218
Iowa140723
Hancock138030
Grundy132430
Winnebago130531
Calhoun129611
Cass129651
Jefferson128634
Appanoose123247
Louisa122644
Mitchell120740
Chickasaw119915
Union119331
Sac118818
Shelby117634
Emmet115340
Humboldt113725
Franklin109719
Guthrie109628
Palo Alto101721
Howard99722
Unassigned9720
Montgomery96936
Clarke95120
Keokuk92429
Monroe90028
Ida81832
Adair81630
Pocahontas80919
Davis76623
Monona76527
Greene73110
Lucas72221
Osceola68315
Worth6678
Taylor64112
Decatur5719
Fremont5619
Van Buren53718
Ringgold50620
Audubon4759
Wayne47221
Adams3194
Rochester/St. Mary'S
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Hi: 59° Lo: 34°
Feels Like: 28°
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