Stock surged on a blowout employment report, and OPEC reaches a production cut agreement.
 | FRI, DEC 06, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 270.71 | +5.13 | +1.93% | | CSCO | 43.84 | +0.32 | +0.74% | | INTC | 56.81 | +0.73 | +1.30% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 11.10 | +0.31 | +2.87% | | BAC | 33.67 | +0.58 | +1.75% | | AMD | 39.63 | +0.01 | +0.03% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 39.63 | +0.01 | +0.03% | | AAPL | 270.71 | +5.13 | +1.93% | | MU | 47.93 | +1.31 | +2.81% | |
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Worries about a slowing economy and the peak of the bull market can be quickly put to rest on a day when the latest employment report clobbers expectations by nearly 80,000 jobs. November's unemployment rate fell back to 3.5% as nonfarm payrolls grew by 266,000 jobs. Stocks rallied on the news, nearly returning to the all-time highs from which they had slipped in recent sessions. A decade ago, such an astonishingly low unemployment rate was unthinkable as the rate had surged to 10% after the 2008 financial crisis.
 Most of November's jobs gains came in education and health care as well as leisure and hospitality, CNBC's Tom Franck reports. If there's a negative to Friday's jobs report, it's that the economy appears to be doing so well that the Federal Reserve will be even less inclined to talk about easing interest rates when it meets next week, writes CNBC's Patti Domm. The Fed's rate cuts, after all, have been key in jolting the stock market from its doldrums last summer. "The bottom line is the labor market is cooking," said Ward McCarthy, chief financial economist at Jefferies. "It clearly says the Fed should not do anything more." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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