Bessent Under Discussion to Also Lead NEC | Bloomberg Brief 12/4/2025

US stocks experienced small gains on Thursday, buoyed by stronger-than-expected jobs data, which did not alter expectations for a Federal Reserve rate cut next week. Meta's stock surged due to budget cuts, reflecting a positive response from investors.

Treasuries experienced a decline as new jobless claims in the US unexpectedly fell to their lowest level since 2022, indicating a tightening labor market ahead of the Federal Reserve's upcoming rate decision. This drop in claims suggests that employers are retaining workers despite economic uncertainties.

The stock market showed positive movement on December 4, 2025, with the Nasdaq and S&P 500 indices leading gains following Meta's announcement of job cuts and a report indicating the lowest jobless claims since 2021. This development reflects a response to ongoing economic conditions and corporate strategies in the tech sector.

European stocks rose on optimism that the Federal Reserve may cut interest rates, driven by indications of a slowdown in the US labor market. This sentiment reflects a broader trend of positive market reactions to potential monetary easing.

Kevin Hassett, a longtime advisor to President Donald Trump, is viewed as a leading candidate for the position of Federal Reserve Chair. However, Gregory Peters from PGIM Fixed Income expressed skepticism about Hassett's ability to implement the rapid interest rate cuts that Trump desires, even if he is appointed to the role.

Silver prices have remained near an all-time high following the release of US payroll data, which has strengthened expectations for an interest rate cut by the Federal Reserve in its upcoming policy meeting. Gold prices showed little change during this period.

Scott Bessent is being considered to lead the National Economic Council while continuing his role as Treasury Secretary, as reported by Bloomberg. This potential dual role highlights the administration's strategy to streamline economic policy leadership amid ongoing economic challenges.

Asian stocks opened higher, reflecting gains in US markets as new data indicated a slowing job market, bolstering expectations for a Federal Reserve interest rate cut next week.