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On the SPOT™ blog (02/01/2024) [M..]

Updated: Feb 2

Investors seem to have come back after a sharp pullback yesterday following FOMC meeting conclusion. Feds held the rates steady and indicated that rate cut(s) could happen sometime this year and the Chairman clarified that it looks unlikely that it would happen in March FOMC meeting. This morning's economic data seems good in that Bureau of Labor Statistics reported rise in productivity in Q4 of last year and ISM showed contraction but an uptick compared to December and the number was better than estimates. At the moment, things seem to be progressing in the direction of soft landing. All three major US indices are in the green this morning (PST).

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