Bloomberg Daybreak: US Edition Daybreak Holiday: November Jobs, Oil Volatility, Antitrust Under Trump
Nov 28, 2024
Stephen Schork, founder of the Schork Group, offers a deep dive into the volatile oil markets, analyzing the impact of sanctions and the transition to cleaner energy. Jennifer Rhee, a senior litigation analyst at Bloomberg Intelligence, discusses how antitrust litigation against big tech may be influenced by the incoming Trump administration. They explore the interconnections between energy policies, market dynamics, and political shifts, providing insights into both the oil industry's future and the evolving landscape of tech regulation.
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Economic Resilience and Potential Weakness
- The US economy shows resilience despite some weakening in the labor market.
- Consumer spending and wage growth remain steady, supporting future economic activity.
Importance of November Jobs Report
- November's jobs report, particularly the unemployment rate, is crucial for the Fed's December rate decision.
- Economists predict varying payroll numbers and slight unemployment rate increases.
Fed Policy and Economic Sectors
- The Fed's policy is considered restrictive despite the economy's resilience.
- Rate-sensitive sectors like housing and manufacturing show softness, while small businesses might be experiencing labor cost cuts.