U.S. stock indexes notched their best weekly gain since the November elections Friday, even though the latest update on employment showed a disappointing jobs gain in January, suggesting that recovery in the labor market is stalling.
The next date circled in red for Democrats working on President Joe Biden’s $1.9 trillion economic plan is Feb. 16, the deadline for congressional committees to produce the legislation to put the proposal into law.
The White House plans to contract with at least six testing companies to spur development and manufacturing of more than 60 million at-home COVID-19 tests by this summer.
The BBC and the Chinese state broadcaster are at the center of the most recent political clash between the U.K. and China, with Beijing floating “further measures” against the BBC and accusing it of being “fake news.”
The U.S. regained a meager 49,000 jobs in January and the unemployment rate fell again to 6.3%, but the economy is still struggling to recover after a record coronavirus surge induced more layoffs at the end of last year.
Futures for gold and silver stage a mini rebound after a volatile week for precious metals. Dealers will be closely watching a monthly report on U.S. employment which could influence trade for precious metals.
Shares of GoPro Inc. were down 12% in after-hours trading Thursday after the maker of action cameras posted weaker-than-expected revenue for the holiday quarter.
The U.S. regained a meager 49,000 jobs in January and the unemployment rate fell again to 6.3%, but the economy is still struggling to recover after a record coronavirus surge induced more layoffs at the end of last year.
U.S. stock indexes hold close to record levels Friday morning, with the benchmarks on track for the best weekly gain since the November elections, even though the latest update on employment showed a relatively disappointing gain of 49,000 jobs in January, suggesting that the recovery in the labor market is stalling.