Stocks were rising in intraday trading on Friday, Dec. 4 after a considerable slowdown in a U.S. labor market recovery boosted chances of more economic stimulus from Congress.
The U.S. economy added 245,000 jobs in November, well below economists' estimates of 450,000, as hiring in the private sector and in retail slowed ahead of the key holiday shopping period. The jobs gains last month were the smallest since May.
And this could mean that stimulus becomes more than just a talking point for the media on Capitol Hill.
Senior Republicans have warmed to the idea of using a $908 billion proposal from a bipartisan group of lawmakers as a basis for a relief deal, Bloomberg reported. The proposal has been endorsed by Democratic leaders but hasn’t been publicly supported by GOP Senate Majority Leader Mitch McConnell.
Jim Cramer discusses stimulus and what he would want to see from a bipartisan effort in the video above.