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Midday Market Update

More Jobs in December for the U.S. and Canada

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U.S. Markets
The United States added 156,000 payroll jobs in December, taking the total increase for 2016 to about 2.2 million. The consistent gain in employment has started to push wages higher. Average hourly wages increased 0.4% in December and 2.9% for the year. This marks the fastest increase since the recovery started in 2009. More people are entering the workforce as the labor-force participation rate ticked up to 62.7%. The increase in wages might prompt the Fed to further increase rates.  

After a rocky start Friday morning, U.S. stocks steadied, and both the Dow and S&P were up 0.26%. The Nasdaq had added 0.49% before noon. Gold was trading for $1,173.20 per ounce, down 0.69%. Crude-oil futures were down 0.35% to $53.56 per barrel.

Manjul Bhusal Sharma does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.