Market Outlook for the Week of 8-12 January ...Middle East

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Market Outlook for the Week of 8-12 January
Last week the U.S. jobs report surprised to the upside which could indicate the Fed won't be in a hurry to cut rates. The U.S. economy added 216K jobs in December compared with the 175K analyst expectation. The unemployment rate remained unchanged and the average hourly earnings rose slightly by 0.4%.However, the JOLTS report for November was not so rosy with job openings falling further, yet still above pre-pandemic levels. The continuing jobless claims also registered a slight increase last year indicating that those who get laid-off find it harder to secure new employment. Overall, while the labor market remains tight, there are signs that it is cooling down. The minutes from the last FOM

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