The new stock market volatility isn’t expected to discourage a parade of unicorn IPOs in early 2019.
Who’s coming: Uber and Lyft have already filed confidential paperwork, so they’re likely to price before the end of Q1. There also are widespread expectations about offerings from Airbnb, Peloton, Palantir and Slack.
Americans' predictions for the stock market this year are almost completely determined by party, with Democrats as pessimistic about the coming year's stock performance as Republicans are optimistic, according to an Axios/SurveyMonkey poll.
Between the lines: The two parties are almost exact mirror images of each other, with independents caught in the middle. It's a good reminder of how much people's political views can shape their expectations for their personal finances, not just politics.
Stocks jumped on Friday following a stronger-than-expected employment report and dovish sentiment from Fed Chair Jay Powell.
The Dow Jones Industrial Average closed up 749 points, or 3.29%, while the S&P 500 and Nasdaq gained 3.43% and 3.38%, respectively.
As would be expected, bond yields also rose. The 2-year rose to 2.4% from 2.3% and the 10-year yield climbed to 2.6% from 2.5%, or 10 basis points each.
Rep. Matt Gaetz (R-Fla.) guest hosted Fox News' "Outnumbered" show on Friday alongside four other co-hosts, he said in a tweet.
Why it matters: Gaetz, a loyal surrogate and ally to President Trump, has been a recurring guest on the network's programs, but now has guest hosted a show despite being a sitting congressman.
White House economic adviser Larry Kudlow told Bloomberg on Friday that December's strong jobs report was more evidence that there is no "recession in sight," despite a "gloomy" period for the stock market.
The big picture: The strong job gains suggest a healthy labor market, but that's a lagging indicator. More forward-looking data points, like Thursday's manufacturing data, have raised red flags about the health of the economy. Kudlow also played down the impact of the U.S.-China trade war on U.S. companies, saying, "It's a little easy and inaccurate to say all of these American companies are going to crash."
The economy added 312,000 jobs in December, topping the 180,000 that economists were expecting, while the unemployment rate ticked up to 3.9%, the Labor Department said on Friday.
Why it matters: The final jobs report of 2018 saw even stronger wage growth and increased workforce participation. Both were previously missing factors that have puzzled economists with such a strong labor market.
China said Thursday it will host face-to-face trade talks with U.S. officials in Beijing on Jan. 7 and 8, Bloomberg reports.
Why it matters: This is the first time negotiators from the two countries will meet after President Trump and Chinese President Xi Jinping agreed to a 90-day trade war ceasefire on Dec. 1. The U.S. delegation will reportedly be led by Deputy U.S. Trade Representative Jeffrey Gerrish.
