The US economy has added 261,000 jobs

The newly created jobs in the world's largest economy amounted to 261,000 in October. At the same time, the unemployment rate fell again to 4.1%, according to data from the National Labor Office.
This is the lowest unemployment rate since December 2000.
However, the data proved to be slightly below average analysts' expectations. At the same time, employment figures for August were revised upwards from 169,000 to 208,000.
The September data also revised up to an increase of 18,000, compared with an initial decline of 33,000.
Analysts' average expectations were for 313,000 new jobs in October and unemployment rate at 4.2%.
October's pay growth is also disappointing. It turned out to be zero versus 2.4% in the previous month. This greatly reduces inflation expectations in the coming months as well as a December interest rate hike.

T. Lee: Buy the bitcoin at $5,500

Tommy Lee, one of the most bullish analysts in the bitcoin, who predicts that the cryptocurrency will rise to $25,000 by 2022, warned investors to be careful.
The bitcoin has risen to a new historic peak at nearly $7,300, which is an increase of over 60% over the past nearly a month.
While growth is largely predetermined by factors such as the rumors that the CME Group will offer futures on the cryptocurrency, and that Amazon buys crypto-based domains, Lee warns that growth of such magnitude may not be particularly healthy.
The expert advised investors to buy the bitcoin at $5,500, keeping its target for the $25,000 price in 2022.
What does Lee want to say?
That it is quite possible to witness a depreciation of the bitcoin to levels of 5,000-5,500 dollars, which would represent a correction of over 30% of the current bitcoin levels.
It should also be noted that Coinbase has added more than 100,000 users in the last 24 hours following the announcement by CME.

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JPM: There are no cheap assets at the moment

Richard Madigan, Chief Investment Officer of the Private Banking Unit of the Investment Bank J.P. Morgan has bad news for investors. And it is - no asset seems cheap at the moment.
Madagan, which manages assets of $290 billion of private customers, and a total of more than $1 trillion in general, believes that the main challenge for investors today is the diversification of expensive markets and how to manage the higher customer expectations.
Yesterday, the stock saw a certain return after the record highs, which is seen as the first symptom of risk exposures among investors, and according to some experts, may be a precursor to a more serious adjustment.
The strategy among investors to buy on any index drop was the most profitable in the past three to five years, but the question is when will it stop working properly?
Some experts, such as GS, have made comments last week that the US economy and markets may be close to their peak. A similar thesis was taken up by other market observers.
Still, the foundation for the economy and companies remains strong, concludes Madigan. So, the biggest challenge for the manager right now is still the proper management of investor expectations. And the latter are quite high.

Oil rally may be short-term?

Another good week for oil after the OPEC Secretary predicted global oil consumption growth to over 100 million barrels per day by 2020. Mohamed Barkindo's statement was widely welcomed by oil investors.
Investors are now beginning to ask - is the oil rally justified and how far could the price of black gold go?
The market knows that OPEC's positive comments and forecasts often are rapidly being overcomed. Especially in cases where net long positions of investors rise to high levels, as currently the case is.
Investors are aware that any forecasts coming from OPEC should be taken with a great portion of mistrust. In the end, they come from a party that is interested in a high oil price and can be manipulated.
Some experts start to worry that the price of oil has risen too much and too fast. Not only the planned repairs of US refineries expected to bring downward pressure on raw material prices, but also the number of shale growers is rising as a result of the rise in oil prices.
Oil demand from China may also fall below expectations, which is another factor to lower the price of oil.
On the other hand, the unprecedented warming of relations between Russia and Opec may be a factor that will continue to support the cost of the raw material. What will happen from now on is yet to be seen.

Gold continues to lose positions

Gold fell yesterday after investors were eagerly awaiting the announcement of the new Fed leader who would feed the dollar. At the same time, US indices are trading very close to their record highs.
President Trump told the media on Monday that he was "very, very close" to his choice of a new Fed leader.
The spot price of gold fell by 0.5% to $1 276 per ounce after falling to $ 1,271.86 an ounce a day earlier.
Gold futures with delivery in December fell by 0.2 percent to $1 278.9 per ounce.
The spot price of gold lost 6 percent of its one-year high on September 8, at a level of $1,357.54 per ounce. Expectations are that the Fed will raise rates in December for the third time this year.
Gold also does not receive support in the direction of geopolitical uncertainty. Recently, there is nothing new about North Korea, or the situation seems quite relaxed.

GS: S&P 500 at 2 400 points by the end of the year

The US economy is growing at a healthy pace, which has already brought the US indexes to new record highs, commented GS chief financial analyst David Kostin. He acknowledged that a synchronized rise in economic activity around the world was a major reason for the appreciation of the stock.
Now, however, Kostin warns investors to be careful. He pointed to the ISM Manufacturing Index, which is at a 13-month high of 60.8 points in September. Indicator value is above 50 points, signaling growth.
In other words, according to Kostin, the current ISM index values ​​could signal a peak in the economy.
And as we know, expectations are being traded in the markets. When expectations begin to slow down, markets are also following.
Kostin predicts the blue chip index S&P 500 to drop to 2 400 points by the end of the year. Despite these expectations, he likes growth-oriented stocks.