What you need to know on Wall Street today


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The US economy added 228,000 nonfarm payrolls in November, more than economists had forecast, a report on Friday from the Bureau of Labour Statistics showed. The unemployment rate held at a 17-year low of 4.1%.

Overall, the report demonstrated that job creation remained strong in the US even after deadly hurricanes slammed into the Southeast this fall and temporarily weakened hiring.

Here’s the latest:

In Wall Street news, the founder of a $US14 billion biotech hedge fund is stepping down after sexual harassment allegations. JPMorgan is taking customer pricing hints from Amazon.

President Donald Trump’s long and winding history with Deutsche Bank could now be at the center of Robert Mueller’s investigation. And Trump says penalties for Wells Fargo mortgage-lending scandal could be “substantially increased.”

In markets news, Bank of America has come up with the “ultimate tax reform trade” that everyone is missing. BlackRock’s $US1.7 trillion bond chief explained the key dynamic every investor needs to understand.

Lastly, a retired hedge fund manager has sold his 2-in-1 St. Barts estate that was listed for $US67 million – take a look inside.

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