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The U.S. labor market bounced back last month, adding more than 220,000 jobs to the economy.

And a federal appeals court says the U.S. government can move forward with its ban on TikTok.

Plus, the three main indexes hit record highs this year.

But what does that mean for the market next year?

And 10 years from now.

Historically, there's just been no link between valuations and the next year's returns.

Because if things turn into a bubble or if it turns out with hindsight that we are in a bubble,

bubbles keep inflating until they pop.

It's Friday, December 6th.

I'm Tracy Hunt for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that

move the world today.

The U.S. labor market bounced back last month as workers sidelined by storms got back on the job, and thousands of striking Boeing employees returned to work.

The Labor Department reported today that the U.S. added a seasonally adjusted 227,000 jobs in November.

Solid jobs growth that was roughly in line with expectations.

Justin Layhart is an economics reporter for the Wall Street Journal.

Justin, the Fed is meeting later this month.

How will this new information figure into their decision about another interest rate cut?

At this point, the betting is that the Fed will be cutting rates again.

...