US Stock rallied yesterday led higher by banks of all sizes and scopes rallied as a rise in long-term rates promised to allow financial firms to hike the interest banks can charge on their loans, a key driver of commercial lending profits.
U.S. private employers in December slashed jobs for the first time in six months, suggesting the labor market's recovery from the coronavirus crisis has stalled amid a resurgence in cases nationwide. According to the ADP National Employment Report companies shed 123,000 jobs last month, missing the 88,000-job increase that economists had predicted.
New orders for U.S.-made goods increased more than expected in November and business investment on equipment was solid, pointing to sustained recovery in manufacturing. The Commerce Department said that factory orders rose 1.0% after increasing 1.3% in October.
With Northwest Quadrant Wealth Management, I’m Tyler Simones