Table of Contents:
Job creation in November
In the month of November, US companies created 146,000 jobs, a lower number than the 150,000 expected and 184,000 in October, which were revised downwards. These figures, although lower than expected, continue to suggest a certain strength in the labor market, which proves to be resilient despite an economic environment characterized by inflationary pressures
and high financing costs.
Implications for the Federal Reserve
This situation represents good news for Federal Reserve officials, who now no longer see the labor market as a source of inflation. Their focus has shifted to preserving employment opportunities, trying to maintain a balance between economic growth and price stability. The next Fed meeting will be crucial, with a 76% chance of a possible interest rate cut, which could further stimulate the economy.
Development of the financial markets
Although employment figures were lower than expected, Wall Street opened positively, with the S&P 500 index and Nasdaq setting new intraday records. This optimism could reflect general confidence in the potential for economic growth, even in an environment of uncertainty. In addition, the price of WTI oil rose slightly, contributing to a stable climate in energy
markets.
Innovations in the healthcare sector
Another interesting aspect concerns the healthcare sector, where Eli Lilly‘s weight-loss drug, Zepbound, overtook Novo Nordisk’s rival Wegovy in a comparative study. This development could have significant repercussions on the weight-loss drugs market, opening up new opportunities for patients and pharmaceutical companies. In addition, the European Commission has approved the creation of the joint venture Coding Solutions Topco (CorroHealth) by US private equity firms Patient Square and Carlyle Group, aimed at improving revenue cycle management
in US healthcare systems.
Mortgage applications and interest rates
Finally, the week of November 29 saw a 2.8 percent increase in mortgage applications, according to the Mortgage Bankers Association (MBA). New requests increased by 5.6%, despite a 0.6% drop in refinancing requests. Thirty-year mortgage rates fell to 6.69%, compared to 6.86% the previous week, suggesting a possible improvement in access to credit
for potential homebuyers.
