US companies added 213,000 workers to payrolls this month, according to the ADP National Employment Report. Although the monthly increase is below December’s strong 263,000 gain, the latest number still reflect a healthy expansion for the labor market. The release goes a long way in dismissing concern that a new recession is imminent. Today’s report (and Monday’s encouraging data from the Chicago Fed National Activity Index for December) follows the cautious but upbeat analysis of the US business cycle published earlier this month.
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The new year has been kind to foreign stocks so far. Although all the major regions of the world are posting year-to-date gains through yesterday’s close (Jan. 29), equity markets in Latin America and Eastern Europe/Russia are well ahead of the rest of the field, based on a set of exchange-traded products.
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Fed will likely leave interest rates unchanged in today’s announcement: Reuters
Temperatures drop to ‘historic lows’ in Midwest: NBC
Foreign policy is dividing the Republican establishment: NY Times
With clock ticking, UK focuses on renegotiating Brexit; EU says no: Reuters
French economy grew faster than expected in Q4: FT
Economists are skeptical of White House’s rosy growth outlook: NY Times
Hedge fund assets in Q4 fell for first time in 10 quarters: P&I
Annual growth of US home prices falls to four-year low for annual change: MW 
US Consumer Confidence Index slumps to 18-month low in Dec: MW