US stocks closed at yet another all-time high. John Authers quizzes Richard Bernstein of Richard Bernstein Advisors on whether the long bull run for the S&P 500 can continue much longer.
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John Authers reports from New York on a week when the data lured Wall Street over Main Street and the US over the rest of the world.
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Today’s IBD notes that Japan has moved to the top of list countries hosting the world’s most innovative countries. The study is based on a Thompson-Reuters report,
The U.S. was the most innovative nation among the top 100 in the first three years Thomson Reuters compiled the list, but not this fourth year. For the first time, Japan leads the list with 39 companies, followed by the U.S. with 35. “The companies featured on this year’s list have shown that the significant investment of time and resources in innovation are reaping rewards with shareholder value, growing revenues and increased market share,” the Thomson Reuters report said.
Among this year’s honorees are Apple AAPL , for the fourth year in a row. Apple stock is currently trading near its all-time high of 110.30 on Nov. 3, after the company narrowed the launch window for its Apple Watch to this spring. Also making the cut was Lockheed Martin LMT , developer of the F-35 stealth fighter jet. Lockheed Martin stock also is trading near its all-time high of 192.94 set on Nov. 4. Lockheed Martin recently said that its F-35 will begin testing carrier-based flights for the first time. The F-35 is over budget and behind schedule, but militaries around the world are still eagerly ordering the jet. Boeing BA , developer of the 787 Dreamliner, also made the list.
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The BLS reported this morning,
Total nonfarm payroll employment rose by 214,000 in October, and the unemployment rate edged down to 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, retail trade, and health care.Total nonfarm payroll employment rose by 214,000 in October, and the unemployment rate edged down to 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, retail trade, and health care…
In October, the average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.6 hours. The manufacturing workweek was unchanged at 40.8 hours, and factory overtime edged down by 0.1 hour to 3.4 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged up by 0.1
hour to 33.8 hours. (See tables B-2 and B-7.)Average hourly earnings for all employees on private nonfarm payrolls rose by 3 cents to $24.57 in October. Over the year, average hourly earnings have risen by 2.0 percent. In October, average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $20.70.
The change in total nonfarm payroll employment for August was revised from +180,000 to +203,000, and the change for September was revised from +248,000 to +256,000. With these revisions, employment gains in August and September combined were 31,000 more than previously reported.
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Global Macro Monitor 