Confirm payrolls for November rose 211,000, above the consensus estimate of 200,000, which follows the strong and upwardly revised October reading of 298,000 new jobs.  The unemployment rate held at five percent and the labor force participation rate rose slightly to 62.5 percent from 62.4 percent.

After the terrible showing on Thursday, ‘Super Mario’ Draghi flew to New York and spoke at an Economic Club event.  Knowing that his communications the day before had failed, he amped up his message to include dovish comments like ‘there is no particular limit to how we can deploy any of our tools,’ and ‘we have the power to act, the determination to act and the commitment to act.’

When asked by the form Bank of England Governor Mervyn King whether the speech at the Economic Club was inked to clarify his comments from the previous day, Draghi said, ‘no, not really.  Well, of course.’  The crowed laughed approvingly.

West Texas Intermediate (WTI) crude fell -2.23 percent to $40.11 on news that OPEC decided against a product cut.  OPEC has been increasing production to gain market share while non-OPEC members like Russia and the US have kept their production high even as prices have fallen.