President-elect Joe Biden speaks about the Electoral College vote certification process at The Queen theater on December 14, 2020 in Wilmington, Delaware.US stocks closed at record highs on Friday after President-elect Joe Biden demanded trillions of dollars in immediate further fiscal support following the weaker-than-expected jobs report.
American businesses shed 140,000 nonfarm payrolls last month, missing consensus economist estimates that foresaw 50,000 job additions.US stocks closed at record highs on Friday to finish out the first week of trading in 2021. After the market reversed lower mid-day, stocks recovered as President-elect Joe Biden demanded for trillions of dollars in immediate further fiscal support, citing the weaker-than-expected jobs report.
President-elect Biden called for increasing direct payments to individuals after the US saw payrolls drop for the first time since April.. The reading is weaker than consensus economist estimates that foresaw 50,000 job additions, according to Bloomberg data.