GettyTopline: Wall Street cheered the release of November’s blockbuster jobs report on Friday, helping the market recover its trade-war-related losses from earlier in the week and putting a number of major stocks at new all-time highs. Solid economic data, namely a blockbuster November jobs report that far exceeded analyst expectations, drove the big Wall Street rally on Friday. The Trump administration has spent months going back and forth with China on trade negotiations, with tensions constantly escalating and de-escalating. With both sides yet to sign a phase one trade deal, Trump’s recent approval of U.S. legislation on Hong Kong further “stalled” trade progress, according to Axios. That could make it more likely that Trump will hold off on planned December tariffs to keep the deal alive.

Source: Forbes December 06, 2019 21:41 UTC