The November jobs report was better than expected as growth soars. The unemployment rate was reduced down by 0.1% to 3.5%, the lowest since 1969. There was also an increase in average hourly growth by 3.1% since last year. The nonfarm payroll jobs surged by 266,000 whereas the expected rates were 187,000. The US needs around 107,000 jobs to keep the employment rate steady. The jobs report for December is expected to be reported today in the aftermarket hours.

Oil prices climbed on 9th December as OPEC agrees to cut oil production by 500,000 barrels per day. The cut will officially take effect from January 2020 and will continue till March. In March it will be decided if the cut in production will be continued or not.  

On 13th, China declared a phase one trade deal to stop the increase of the trade war. The US-China trade dispute seems to be getting over after a long run as the deal achieve meaningful structural changes which will help in rebalancing. The DOW initially rose 150 points but closed the day marginally up by 3 points whereas SP500 and Nasdaq were able to finish the day in new high with good gains.

The new year started with US stocks wrapping up one of their best years on record in 2019, rounding out a decade-long rally that started in the financial crisis. The S&P 500 index of US blue-chips had gained 28.9% in 2019, its most solid year since 2013, surpassing the FTSE All-World index, which was up 24% for its best run since 2009. Top picks in the US over the decade include Netflix, whose shares rose 4,000%, and Apple, up about 868%. US stocks have gained 190% over the last 10 years, a comeback from the 2000s when they lost a fifth of their value.