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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.

Download CNN MoneyStream for up-to-the-minute market data and news

6. Coming this week:

Friday -- Jobs report

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 156287

Reported Deaths: 2252
CountyCasesDeaths
Multnomah31935542
Washington21311212
Marion18541285
Clackamas13426183
Lane10325129
Jackson8489114
Umatilla767882
Deschutes597561
Yamhill379168
Linn360157
Malheur335358
Polk307343
Klamath279855
Douglas252755
Josephine236553
Benton234817
Jefferson196628
Coos152420
Union129519
Columbia127421
Wasco122126
Lincoln113620
Hood River106929
Morrow104914
Clatsop7776
Crook77618
Baker6639
Curry4296
Tillamook4212
Lake3786
Harney2776
Grant2251
Wallowa1425
Gilliam541
Sherman530
Wheeler221
Unassigned00

California Coronavirus Cases

Data is updated nightly.

Cases: 3582320

Reported Deaths: 53083
CountyCasesDeaths
Los Angeles119601721676
Riverside2904983849
San Bernardino2870552959
Orange2617983966
San Diego2613533342
Santa Clara1110761798
Kern103756915
Fresno957851451
Sacramento937901498
Alameda809501271
Ventura77952870
San Joaquin671231150
Contra Costa62931695
Stanislaus56433953
Tulare48114768
Monterey42335329
San Mateo39148521
San Francisco34387422
Santa Barbara32147420
Solano30216165
Merced29264407
Sonoma28261301
Imperial26926638
Kings22091220
Placer19911232
San Luis Obispo19751238
Madera15523214
Santa Cruz14736183
Marin13285198
Yolo12867185
Shasta11054179
Butte11007167
El Dorado9195100
Napa908072
Sutter889998
Yuba577638
San Benito577061
Lassen562324
Tehama510452
Nevada398874
Tuolumne396659
Mendocino382643
Amador347441
Humboldt323033
Lake316941
Glenn223223
Colusa214013
Calaveras191849
Siskiyou178414
Inyo132137
Mono12144
Del Norte10085
Plumas6536
Modoc4604
Mariposa3957
Trinity3735
Sierra1000
Alpine820
Unassigned00
Medford
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