What you need to know on Wall Street today
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The US economy added 228,000 nonfarm payrolls in November, more than economists had forecast, a report on Friday from the Bureau of Labor Statistics showed. The unemployment rate held at a 17-year low of 4.1%.
Overall, the report demonstrated that job creation remained strong in the US even after deadly hurricanes slammed into the Southeast this fall and temporarily weakened hiring.
Here's the latest:
- Gary Cohn on bitcoin: ¯\_(ツ)_/¯
- Cboe's bitcoin futures market goes live Sunday - but some of Wall Street's biggest banks are sitting it out
- Goldman Sachs will clear bitcoin futures for some of its clients
- Online brokerage giant TD Ameritrade is gearing up for bitcoin futures
- Betting against bitcoin is about to get a lot more expensive
- Coinbase warns that its platform could crash again in the future
- Meet the crypto trader who says he bought a Tesla with "pump and dump" profits but claims the scams aren't bad: "It's a game"
- Bitcoin will reach $150,000 in 2021, predicts a millionaire Dutch crypto entrepreneur
- Get the latest Bitcoin price here
- Read more about blockchain, the technology powering bitcoin, here
In Wall Street news, the founder of a $14 billion biotech hedge fund is stepping down after sexual harassment allegations. JPMorgan is taking customer pricing hints from Amazon.
President Donald Trump's long and winding history with Deutsche Bank could now be at the center of Robert Mueller's investigation. And Trump says penalties for Wells Fargo mortgage-lending scandal could be "substantially increased."
In markets news, Bank of America has come up with the "ultimate tax reform trade" that everyone is missing. BlackRock's $1.7 trillion bond chief explained the key dynamic every investor needs to understand.
Lastly, a retired hedge fund manager has sold his 2-in-1 St. Barts estate that was listed for $67 million - take a look inside.