Labor department released August jobs report this morning that showed that economy added more jobs than estimated. Hourly wages increased as well but unemployment rate increased more than estimated. New jobs growth seems to be cooling with overall employment picture still solid. I think it simply suggests that economy continues to be in a reasonably good shape and Feds will have to continue to perform their balancing act to tame inflation without toppling the economy. CPI data is due in middle of September so it is perhaps too early to draw any conclusions about FOMC's rate decision due in early second half of September. All three major US indices are near the neutral line with DJIA in slight green and S&P500, Nasdaq in mild red perhaps reminding everybody that it is September now -- which has #1 likelihood (as opposed to certainty) of S&P500 showing a decline.
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