I don’t look at many economic data, because most of them are simply not relevant for the further course of the stock markets. Pure waste of time. The market usually cooks its own soup anyway. Fundamental experts therefore always have it hard. They waste valuable life time with useless analyses.

Only these data are really price-relevant! But there are exceptions. The monthly US labor market data have the potential to influence the price development. Of course only then, if a larger trend reversal in one or the other direction is indicated.

So what were the latest US labor market data on Friday?

US labor market continues to be strong – stock markets cheer On the US labor market, net and seasonally adjusted 199,000 new jobs were created outside of agriculture in November, according to the US Department of Labor on Friday. Here, economists had only expected 180,000 new jobs. So the data was even better than expected.

But wages have also been finding strong attention lately due to the formerly very high inflation. These increased by 0.4% compared to the previous month, while expectations were for an increase of 0.3%, after a plus of 0.2% in October.

If one wants to, these data were seen as slightly worse than expected. Year-on-year, however, average hourly wages were again as expected in November, up 4.0%.

So overall, the data was pretty good. No recession in sight and no extreme inflation due to exploding wages (as with us with wage agreements in the double-digit percentage range).

The really good news came from the separately determined unemployment rate. This surprisingly fell from 3.9% in October to 3.7% in November. An unchanged rate of 3.9% was expected.

Here it goes: the further we stay away from the 4 percent mark, the better.

So how did the stock markets react to the data? At first roller coastering, then with strong gains.

This is now the good news for your stocks! US stock futures initially dropped significantly, but were able to quickly recover. Probably this was due to the slightly mixed data, which were ultimately seen positively.

At the close of the stock market on Friday, there was a hefty course gain in any case.

In the end, a „soft landing“ of the US economy despite comparatively high interest rates counts most for the stock markets. That’s what it looks like right now. That’s the good news for your stocks!