Data from Labor department today seems to indicate that economy is in a reasonably good shape. US economy created more jobs than expected and hourly earnings jumped more than expected. This data point in itself looks good but it may have caused some skepticism around inflation control (remains to be seen) as it could make fight against inflation more complicated. At the moment, it appears likely (as opposed to certainty) that. Federal Reserve will raise the interest rates by >=0.50% at the next FOMC meeting to be concluded on December 14th. Stocks were in deep red following this data release but recovered substantially to close the day mixed (Dow closed in slight green where as S&P. and Nasdaq closed in slight red) perhaps because, at least for now, the recession does not seem imminent.
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