CNBC Daily Open: Beauty is in the eye of the U.S. jobs report beholder
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In this article Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today The U.S. November jobs report has something for everybody. Those convinced of weakness will highlight the higher-than-expected unemployment rate as well as the number of jobs shrinking in October. On the other hand, proponents of a strong economy will focus on jobs growth in November beating estimates, and point out that the increase in the unemployment rate was mostly because the labor force grew, as CNBC's Jeff Cox noted.Without any definitive judgment that can be made on the state of the labor market, traders left their bets on interest rate cuts in January mostly unchanged. It's currently at 25.5%, around one percentage point higher than before the release of the November jobs report, according to the CME FedWatch tool. "Today's data paints a picture of an economy catching its breath," said Gina Bolvin, president at Bolvin Wealth Management Group. "Job growth is holding on, but cracks are forming. Consumers are still standing, but not sprinting."That ambivalence was reflected in markets as well. Major U.S. indexes were mixed: The S&P 500 and Dow Jones Industrial Average fell 0.24% and 0.62% respectively, while the Nasdaq Composite registered a mild gain of 0.23%, thanks to Tesla stock closing at an all-time high.Whether you're a bull or a bear, Tuesday's tea leaves will show you what you want to see — but beware confirmation bias.The S&P 500 fell for a third consecutive session.
The Dow Jones Industrial Average retreated Tuesday, but the Nasdaq Composite ticked up. Asia-Pacific markets traded mixed Wednesday. Japan's Nikkei 225 edged higher amid data showing the country's exports grew more than expected in November.Amazon could invest $10 billion in OpenAI. The two companies are in talks over a deal involving the investment and an agreement for OpenAI to use Amazon's artificial intelligence chips, a source told CNBC.Greater Chinese stocks see mixed market debuts. Shares of MetaX Integrated Circuits, a mainland Chinese chipmaker, rocketed roughly 700% on Wednesday, as it listed in Shanghai. Meanwhile, Hong Kong's largest licensed crypto exchange Hashkey saw a muted rise of 3% on its debut on the city's stock exchange. Trump designates the Venezuelan government as a 'terrorist organization.' In a post on Truth Social on Tuesday night stateside, Trump also ordered a blockade of sanctioned oil tankers moving in and out of the country.[PRO] An eyewear brand as an AI winner? Citibank reiterated their "buy" rating on this name on Monday, saying that it will be a leader in the AI glasses market — which will grow more than 100% annually until 2034, the bank added.When growth got stuck in the chimney: A look back at the U.K. in 2025At the beginning of the year, most expected the U.K. to grow by between 1.3%-1.5%, according to the regular comparison of independent forecasts compiled by the Treasury. The outcome has been more or less in line with those expectations.The lackluster performance of the U.K. economy does not, however, appear to have adversely affected the stock market. The FTSE 100 is up by more than 18% year to date, and currently on target to outperform the S&P 500 for the first time since 2022 and for only the third time in a decade.— Ian KingGot a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2025 Versant Media, LLC.
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