• Stocks rose on Friday after the November jobs report and University of Michigan consumer survey data signaled a resilient economy and cooling inflation, fueling the so-called soft landing narrative that the Federal Reserve — and many investors — have been hoping for.
• A closely watched University of Michigan survey showed inflation expectations drop and consumer sentiment jump in December to it highest level since July.
• “Those arguing for a soft-landing have the evidence to support them today, the only caveat being the economy may not be coming in for a landing at all, as it is still up in the air flying high,” said Christopher Rupkey, chief economist at FwdBonds. “Time will tell if this extended growth and moderate jobs creation reignite inflation pressures that force Fed officials to keep rates higher for longer next year.
• The Fed will deliver its latest policy decision Wednesday.

Tagged: #Bidenflation