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A net-negative July jobs report would be the driver to one final win on Friday. Last month's cool hiring lowered the odds for a Fed rate hike and lifted the three major indices to wins for the day and the week.
July's hirings couldn't compete with the massive number of job roles eliminated. The month's hiring gains minus the jobs no longer being filled would add up to a negative of 23,000 overall positions lost.
The markets obviously reacted favorably to the big picture story in this latest jobs report, but there's lots to dissect beyond the numbers. In this report, a closer look at why hires and unemployment cooled.
While the odds for a September rate hike may have tumbled after this jobs report, no one knows for sure what will actually happen. The markets may be betting on another pause, but not everyone agrees.
New developments in the war with Iran, both in the Middle East and back here at home, continue to come out rapidly. For the latest on the hostilities and efforts to reach a deal, updates can be found here.
Inflation and the state of consumers will be in focus in the week ahead. July's CPI and PPI reports come out on Wednesday and Thursday, with new figures on retail sales and sentiment to follow on Friday.
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