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Brexit breakthrough; U.S. jobs report; Shutdown averted

1. Brexit breakthrough: Britain and the European Union reached a Brexit milestone on Friday, breakin...

Posted: Dec 8, 2017 12:52 PM
Updated: Dec 8, 2017 12:52 PM

1. Brexit breakthrough: Britain and the European Union reached a Brexit milestone on Friday, breaking a deadlock that allows talks to move onto a crucial second phase.

Negotiations will now turn to trade and the terms of a transition that would allow businesses in the U.K. to adapt to life outside the bloc.

The pound posted a mild reaction to the deal, gaining 0.2% against the dollar.

Investor enthusiasm may be limited because trade talks promise to be difficult.

"Let's remember that the most difficult challenge still ahead," said European Council President Donald Tusk. "Breaking up is hard. But breaking up and building a new relationship is much harder."

2. Jobs report: The U.S. economy continued its strong jobs-creation run in November.

The data show employers added 228,000 jobs and unemployment remained at a 17-year low of 4.1%.

The report echoes other signs of strength: The economy grew 3.3% in the most recent quarter, its best performance since 2014.

3. Shutdown averted, for now: The dollar edged higher against other major currencies after lawmakers voted for a short-term spending bill that will keep the federal government running for another two weeks.

The major obstacle is what comes after December 22, when the government runs out of money once again.

All eyes will be on the White House, as Trump and top congressional leaders try to resolve policy differences so Congress can pass a long-term spending bill before Christmas.

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4. Global overview: Stocks markets are closing out the week with a bang.

U.S. stock futures were higher. Major European and Asian markets were in positive territory.

U.S. crude oil futures gained 0.7% to trade just above $57 per barrel.

The one big loser of the day was bitcoin, which continued its wild ride. It plunged more than $2,500 after hitting new record on Thursday.

The Dow Jones industrial average and the S&P 500 both gained 0.3% on Thursday, while the Nasdaq added 0.5%.

5. Companies and economics: Shares in Japan Display shot up 9% in Tokyo on a report that Apple might start using LCD screens in future smartphones.

A preliminary reading of the University of Michigan's Consumer Sentiment Index for December will be released at 10 a.m.

Chinese exports and imports data came out stronger than expected, pointing to healthy global trade.

"We expect exports to continue to perform well in the coming months on the back of strong global demand," said Julian Evans-Pritchard, China Economist at Capital Economics.

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6. Coming this week:

Friday -- Jobs report

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 357526

Reported Deaths: 4284
CountyCasesDeaths
Multnomah55810707
Washington38782324
Marion36837455
Clackamas29779309
Lane27744302
Jackson23059310
Deschutes20336125
Umatilla14492150
Linn12911131
Douglas12118243
Josephine9384196
Yamhill8715113
Klamath8020119
Polk737381
Malheur563677
Benton549431
Coos503794
Columbia382644
Jefferson376052
Lincoln319939
Union319549
Crook291846
Wasco288841
Clatsop244328
Baker203529
Tillamook196932
Hood River192837
Morrow185023
Curry180625
Harney113927
Grant100013
Lake93912
Wallowa68612
Gilliam1544
Sherman1523
Wheeler1121
Unassigned00

California Coronavirus Cases

Data is updated nightly.

Cases: 4850807

Reported Deaths: 71341
CountyCasesDeaths
Los Angeles148419226540
Riverside3716705041
San Diego3673614183
San Bernardino3586775692
Orange3242885562
Sacramento1596362309
Kern1463481648
Fresno1463182094
Santa Clara1455431897
Alameda1206921400
San Joaquin1027761721
Ventura1010381167
Contra Costa1000181008
Stanislaus862991335
Tulare80375978
San Francisco54440649
San Mateo54168623
Monterey50911586
Solano46063341
Santa Barbara45223523
Merced42422581
Sonoma40997404
Placer39435429
Imperial36071766
Kings32938325
San Luis Obispo29973333
Madera23955285
Shasta23924352
Butte23818273
Santa Cruz21034221
Yolo20397248
Marin17706244
El Dorado17207149
Sutter13937175
Napa12898100
Yuba1011582
Tehama9534110
Humboldt9269109
Nevada916790
Mendocino766787
Lassen754347
San Benito744972
Tuolumne691790
Lake6631105
Amador547364
Siskiyou451246
Glenn438433
Calaveras391481
Del Norte358742
Colusa307618
Inyo214241
Mono16723
Plumas16607
Mariposa133916
Trinity88011
Modoc6895
Sierra1880
Unassigned1460
Alpine1050
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