The Monday Mix: Jan. 3 – 9, 2022
— The US economy added just 199,00 jobs in Dec. vs. 422,000 expected, with wages up nearly 5% during past 12 months; in 2021, a record 6.4 million jobs were created, but economy is short nearly 3 million jobs vs. pre-pandemic levels.
— In Nov., 4.5 million US workers quit their jobs, a monthly record; quits at restaurants, bars and hotels led, totaling more than 1 million people.
— The US trade deficit in goods hit a new record of $99 billion in Nov. (24% above estimates) surpassing Sept. 2021 record of $97 billion, as US consumer spending on imported goods stayed strong through the holidays.
— S&P 500 earnings are expected to be up 22% in 4th quarter 2021 (vs. same quarter in 2020), but the number of companies issuing negative guidance on earnings is highest since Q1 2020.
— Global reported COVID-19 cases hit 13.5 million weekly, up 64% from previous week, while the global 7-day-average of COVID deaths dropped 3%.
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