This morning's employment report showed that number of jobs added in July was less than expected. Unemployment rate fell to 3.5% and hourly wages grew more than expected. Labor market seems robust and yesterday's quarterly results from Amazon and Apple suggests economy is in reasonably good shape. Perhaps, taming and sustaining tamed inflation (after it is consistently at target) might need more Fed moves. Next FOMC meeting is in September so at least this month there is no impending rate hike decision. Markets seem to have responded well to big tech earnings and all three major US indices are in the green this morning (PST).
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