CNBC Economy

Hiring for government jobs and health care led the gains to close out 2023.

When the December jobs report is released Friday morning, markets will be looking for a number that hits a sweet spot.

Musalem, 55, will start on April 2. He replaces James Bullard, who joined Purdue University last August.

Private payrolls increased by 164,000 for the month, a substantial rise from the downwardly revised 101,000 in November.

The JOLTS report showed employment listings nudged lower to 8.79 million, about in line with the Dow Jones estimate for 8.8 million.

Notable overseas investments in 2023 included Nintendo in Japan and Vale Basic Materials in Brazil. 

Faced with weakening demand, price-sensitive consumers and easing inflation, some sectors are now forced to grow profits without the tailwind of price hikes.

Anger about higher prices appears to outweigh the benefits of a hot labor market in the minds of consumers.

The core personal consumption expenditures price index was expected to increase 0.1% in November and 3.3% from a year ago.

The U.K. is edging closer to technical recession after revised figures showed the economy shrank in the previous quarter.

The U.K. and Switzerland on Thursday signed a post-Brexit financial services deal designed to bring two of Europe's largest banking centers closer together.

The ECB also announced plans to accelerate the shrinking of its balance sheet as it brings all tools into tightening mode.

Retail sales rose 0.3% in November, stronger than the 0.2% decline in October and better than the Dow Jones estimate for a decrease of 0.1%.

The Federal Reserve dialed back its inflation projection on Wednesday, seeing its favorite gauge falling to 2.4% in 2024.

The producer price index, which measures a broad range of prices on final demand items, was unchanged for the month.

Money markets are currently pricing in almost 150 basis points of rate cuts next year. 

The market is pricing an almost 100% chance of a hold on Thursday, but when the first rate cut will come remains a hot topic.

The consumer price index was expected to be flat in November and up 3.1% from a year ago, according to Dow Jones consensus estimates.

Falling oil prices and rising gold prices indicate growing recessionary fears — but 10-year Treasury yields jumped Friday amid hopes of a soft landing.

Nadia Calviño, newly-appointed head of the European Investment Bank, on speeding up procedures, increasing MDB collaboration, and AI regulation.