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Home / Business / Jobs Report, Broadcom, Fiat Chrysler and Tesla – 5 Things You Must Know

Jobs Report, Broadcom, Fiat Chrysler and Tesla – 5 Things You Must Know



Here are five things you need to know for Friday, December 7th:

1. – Stock futures below US jobs

US equity futures traded lower on Friday 7 December and global equities were mixed as investors returned to risk markets but maintained an attitude Prudent in view of a US employment report could have important implications for the Federal Reserve's short-term interest rates.

Fed President Jerome Powell has signaled a possible change in the central bank's political path last week, when he suggested that the central bank's benchmark interest rate was approaching neutrality, a rate that would not have changed neither stifled growth. But Powell also noted that he and his Fed colleagues would be more "data-dependent" to make that assessment.

At a construction conference on Thursday evening in Washington, Powell said the US economy was "performing very well" and noted that "from many measures nationwide (the labor market) it's very strong. "

Keeping this in mind, the Friday exit of the US non-farm payroll report for November could provide a key piece to the Fed's data problem, given its links to the Fed's dual mandate for price stability and full employment.

Contracts linked to the Dow Jones Industrial Average fell by 79 points, S & P 500 futures fell 9.25 points, and Nasdaq futures fell to 26.50 points.

Thursday's actions suffered heavy losses to end the melee after the arrest of a senior Chinese leader in Canada who threatened to unravel the trade truce between Washington and Beijing. The Dow lost 79 points, or 0.32%, to close Thursday with 24.948, the S & P 500 index fell 0.1

5% and the Nasdaq gained 0.42%. Dow and S & P ended the day by holding on to minimum gains from the start of the year

2. – The US plans to add 195,000 jobs in November

Friday's economic calendar in the US includes the official non-farm pay report for November at 8:30 ET. The economists interviewed by FactSet expect the United States to add 195,000 jobs last month, compared to 250,000 in October, with the unemployment rate standing at 3.7%.

Economists predict that average hourly earnings will increase by 0.3% in November, while the annual rate should remain at 3.1%.

The calendar also includes consumer sentiment for December at 10 am

3. – Broadcom jumps to revenue increase

Broadcom Inc. (AVGO) rose 3.4% in premarital trading on Friday after chip maker released fourth-quarter earnings above estimates and issued a forecast higher than analysts' expectations. [19659003] Broadcom posted adjusted gains of $ 5.85 per share and revenues of $ 5.44 billion. Analysts were looking for $ 5.58 gains on revenues of $ 5.4 billion. The company also increased the quarterly dividend of 51 cents to $ 2.65 per share and added $ 6 billion to its share buy back authorization.

The company said it expects revenues of $ 24.5 billion in the 2019 fiscal year, exceeding estimates of $ 22.58 billion. It is worth noting, according to Eric Jhonsa of TheStreet, that some analysts' estimates do not seem to justify the Broadcom $ 18.9 billion deal for the acquisition of the company software company CA Inc., closed in early November.

Broadcom led by the operating margin, which in the near future will be penalized by CA, to 51% in the 2019 fiscal year, slightly up compared to 50% in fiscal 2018.

"In view of the 2019 fiscal year, we expect another two-digit year Revenue growth Demand for our semiconductor business will be increased by new acquisitions of mainframes and enterprise software for the our infrastructure software segment, "CEO Hock Tan said in a statement. "We also expect the operating margin to reach another record in the 2019 fiscal year, thanks to improved leverage."

4. – According to reports from Fiat Chrysler, it will open a new assembly plant in Detroit

Fiat Chrysler Automobiles NV (FCAU) plans to open a new factory in Detroit, according to the Wall Street Journal, citing the people informed about the plan.

It would be the first new assembly plant in the United States to be opened by a major automobile manufacturer in at least a decade, according to the Journal. Fiat Chrysler plans to build a sport utility vehicle in the new factory, people said.

The new factory would be one of the first major moves of the new CEO Mike Manley, the Journal noted.

The moves from Fiat Chrysler arrived as CEO of General Motors Co. (GM) Mary Barra caught Thursday by US lawmakers angry at GM's plans to end production at the Ohio assembly plants and the Michigan and cut jobs.

Fiat Chrysler shares declined by 1.6% in premarital trading.

5. – Tesla Names Washington Power Lawyer as legal counsel

Tesla Inc. (TSLA) hired Dane Butswinkas from the Williams & Connolly law firm as general counsel, replacing Todd Maron and adding to a long list of managerial departures at the vehicle manufacturer Electric

In October, Tesla CEO Elon Musk contacted Butswinkas to help his dealings with the Securities and Exchange Commission, according to Bloomberg.

Butswinkas will report directly to Musk and oversee Tesla's legal and government teams, the company said in a blog post.

The trial attorney Butswinkas represented the former Jefferies & Co. trader Jesse Litvak, who was twice convicted of defrauding customers by lying about the prices of mortgage-backed securities in the negotiations. Butswinkas managed the second process. Both sentences were overturned on appeal, according to Bloomberg. He also represented the ABC television network of Walt Disney Co. in a lawsuit defamed by Beef Products Inc. in connection with news about an elaborate product that ABC called "pink slime".

Tesla rose 2.1% in premarital trading on Friday [19659031]
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