U.S. private payrolls posted their biggest drop in more than two and a half years in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market’s health, with recent government data showing still-low layoffs.
President Donald Trump said he would be announcing his choice to succeed Jerome Powell as head of the Federal Reserve early next year, further teasing out a months-long audition process despite having said he already knows who he will pick to lead the world’s most important central bank.
U.S. stocks closed higher to record their sixth gain in seven sessions in muted trading, buoyed by gains in technology shares as expectations the Federal Reserve will cut interest rates next week remain elevated.
Gold prices fell over 1% as investors took profits following a six-week high in the previous session, while they awaited key U.S. economic data ahead of the Federal Reserve’s policy meeting next week.
Strategy, the world’s largest public Bitcoin holder, is creating a $1.44 billion US dollar reserve to support dividend payments on its preferred stock and interest on its outstanding debt. Alongside the launch of the reserve, Strategy disclosed an additional purchase of 130 Bitcoin, bringing total holdings to 650 000 BTC.
Tesla registrations in several key European markets plunged in November from a year earlier as the U.S. EV maker continued to struggle to stem market share losses despite rolling out new versions of its best-selling Model Y.
