U.S. equity markets set new highs today as jobs data came in stronger that expected and on White House comments declaring an ‘agreement in principle’ had been reached with China in the trade war regarding the agriculture sector.
October saw the American economy add 128k new jobs vs 75k consensus estimate. September’s number was revised up to 180,000 from 136,000. August jobs growth was revised to 219,000 from 168,000.
There is no sign of the ‘impending recession’ the Deep State media has been pushing now for months in an attempt to weaken President Trump’s popularity.
In other news, Fox Business reported White House economic adviser Larry Kudlow said the first phase of a U.S. trade deal with China is progressing nicely, despite a news report suggesting wariness in Beijing. Although the pact is not entirely complete, President Trump has been optimistic and top U.S. and China trade officials are in the process of negotiating.
“The agriculture chapter is virtually completed,” Kudlow said on Friday, adding that “it also will open up and reduce a lot of barriers and onerous regulations.”