UNEMPLOYMENT

The economy showed signs it was decelerating, with an index of service activity pointing to slower growth in November while new orders for factory goods declined in October for the second straight month.

Stocks rallied more than one percent on Monday, building on the previous week's gains, as optimism grew an agreement between French and German leaders would break new ground to resolve the Eurozone debt crisis.

You can't blame investors for feeling a bit hesitant regarding deploying new money in the U.S. stock market these days. Lingering concern about Italy's finances, along with below-trend U.S. GDP growth has created an uncertain U.S./Europe economic outlook. Where's the Dow likely to head in the next six months?

With joblessness at 17 percent as of October, the country also faces a potential downgrade of its sovereign debt rating by credit agencies.

Results from the Lundberg survey, based on about 2,500 stations throughout America, suggest that the national average prices-per-gallon of regular gas has fallen almost nine cents in the past two weeks and almost 18 cents a gallon over the past six weeks. The average price per gallon of gas on Oct. 21 was roughly $3.47, and it's fallen nine cents on average since then.

Stock index futures rose on Monday, building on the previous week's strong gains, as optimism grew that the upcoming European Union summit would break new ground to resolve the euro zone debt crisis.

Stock index futures pointed to a higher open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 0.8-0.9 percent.

Asian shares and the euro steadied on Monday on hopes European leaders would agree on a definitive plan to solve the euro zone's debt crisis at a crucial summit this week, with sentiment also getting a lift from Italy unveiling austerity steps.

Japan's Nikkei stock average edged higher Monday to build on last week's hefty gains on improved sentiment about the European debt situation, but uncertainty about how markets will assess Italy's new austerity plan capped the upside.

The catalyst for strong equities has been centered on the developments in Europe

U.S. President Barack Obama sought on Saturday to boost pressure on Republican lawmakers to back an extension of a tax cut for workers that he views as vital to help the fragile economy.

The government is fooling the country about the benefits of foreign supermarkets, opposition leader LK Advani said.

The nation’s unemployment rate fell to 8.6 percent in November as the economy added 120,000 jobs, the U.S. Bureau of Labor Statistics reported today.

As macroeconomic developments helped boost stock prices on the one hand, comments from central bankers, politicians and others, on the other hand, dampened the party in the equities market.

The U.S. unemployment rate tumbled to a 2-1/2 year low in November, even though the pace of hiring remained too slow to suggest a significant acceleration in the labor market recovery.

Stocks ended flat on Friday but capped the best week for Wall Street bulls in almost three years after data showed the U.S. unemployment rate dropped to a 2-1/2 year low.

The Canadian dollar ended weaker against the U.S. currency on Friday, following the euro lower, as worries about Europe's debt crisis and disappointing domestic employment data ended a four-day winning streak.

Bank stocks finished up one of the best-performing weeks of the year Friday, as a global coordinated stimulus by the world's top central bankers announced Wednesday injected some badly needed liquidity into the credit markets and signaled a willingness for future intervention if the going gets tougher.

Toronto's main stock index was higher on Friday morning, on track to post its biggest weekly gain in more than two years, pushed up by strong bank earnings, encouraging U.S. jobs data and talk of more action to ease Europe's debt.

Investors pushed stocks higher on Friday, heading for the best week since early 2009, on news the U.S. unemployment rate fell to a 2-1/2 year low.

I was cautiously optimistic to see the unemployment figures dropping to 8.6 percent, concerned that only 7 percent of those who lost and regained jobs during the financial mess are maintaining their previous financial position and despair at the impact decaying infrastructure, like the New York City L Train, has on small businesses and our chances of economic recovery.