All eyes were on the Dow as the index once again flirted with the 20,000 level on Friday.
Ultimately, it was just shy of hitting the benchmark. The index touched 19,999.63 in the early afternoon before backtracking into the close.
Still, the three major indices finished up for the day.
First up, the scoreboard:
- Dow: 19,983.00, +83.71, (+0.42%)
- S&P 500: 2,279.30, +10.32, (+0.45%)
- Nasdaq: 5,526.55, +38.61, (+0.70%)
- US 10-year yield: 2.419%, +0.051
- WTI crude oil: $53.66/bbl, -0.10, (-0.19%)
1. The final jobs report of 2016 was out on Friday. The economy added 156,000 jobs in December, which is fewer than expected but extends the record streak of job creation in the US. Economists had forecast that nonfarm payrolls increased by 175,000.
2. Wage growth hits a new post-recession high. Average hourly earnings increased by 2.9% year-on-year.
3. Canada’s jobs report crushed expectations. Statistics Canada showed that the Canadian labour market added 53,700 jobs in December. Economists had forecast that the economy lost 2,500 jobs.
4. US oil rig count rose by four to 529 — the 10th straight week of increases. The gas rig count increased by three to 135.
5. Treasurys tumbled. The US Treasury market was under pressure following the disappointing jobs report. Selling across the Treasury complex had yields higher for the first time in 2017.
6. Theranos is laying off 41% of its staff, Bloomberg first reported. The company confirmed that Elizabeth Holmes will be staying on as CEO.