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On the SPOT blog (01/06/2023) [M..]

Jobs report that came out today showed more than expected number of jobs created for December. It also suggested lesser number of jobs created compared to November and a slight reduction in wage growth. This is perhaps viewed as somewhat slowing economy while maintaining strong fundamentals (as unemployment rate fell) giving the Feds confidence in achieving "soft landing" while trying to tame inflation. Some comments from Federal Reserve official expressed an opinion that while the Feds will focus on lowering inflation, the intensity of that fight could be reduced. I don't think there was any materially new in today's data but it was perhaps enough optimism for traders that could have helped a strong rally today. All three major US indices finished the day in solid green.

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