3 Things You Must Know About Wall Street as You Head to Lunch - TheStreet

Here are three things you must know at midday on Friday, Dec. 8:

1. -- Stocks were posting solid gains on Friday, Dec. 8, after U.S. employers added a better-than-expected 228,000 jobs in November. The negative, however, was that wage growth slowed and the headline unemployment rate remained unchanged at 4.1%, suggesting a complex jobs market that may not justify faster rate hikes from the Federal Reserve.

Hourly earnings were 0.2% higher than October, the Labor Department said, and only 2.5% higher on the year, a figure that missed economists' forecasts and could tame recent gains for the U.S. dollar as investors prepared for the Fed's final policy meeting of the year next week in Washington. 

"This is going to make interesting reading for the Fed. Wage growth is pretty awful yet again at a time in the cycle where we really should be seeing some momentum," said Luke Bartholomew, strategist at Aberdeen Standard Investments. "They're almost certain to still hike next week in part because this is what they have led investors to expect. The big question going into the end of the year is exactly what needs to be done to stir some life in wage growth. (Donald) Trump's tax cuts will play into the debate but they won't solve the riddle."

The Federal Reserve has lifted interest rates twice so far this year.

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2. -- Boeing Co. (BA) - Get Report CEO Dennis Muilenburg told TheStreet's Jim Cramer that when man one day gets to Mars "the first person that sets foot" on the red planet "will get there on a Boeing rocket."

Tesla Inc. (TSLA) - Get Report CEO Elon Musk, however, dared Boeing to beat him to Mars.

In a tweet, Musk simply wrote, "Do it." Musk has plans to get to Mars on one of his own SpaceX rockets.

As for the stock of Tesla, TheStreet's Stephen Guilfoyle wrote it's fast approaching a "death cross." Read his analysis here.

3. -- American Outdoor Brands Corp. (AOBC) - Get Report , the owner of gun maker Smith & Wesson, fell more than 10% on Friday after the company slashed guidance for the fiscal year.

American Outdoor Brands said it expects revenue of between $650 million and $675 million, down from its previous estimate of $700 million to $740 million. 

"Lower shipments in our firearms business reflected a significant reduction in wholesaler and retailer orders vs. the prior year," CEO James Debney said.

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