The Market Jumped the Gun
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The US jobs report has turned everything upside down in the stock market. While previously, bad news from the US economy was good news for the S&P 500—since investors raised their bets on Federal Reserve rate cuts—this time, cooling in the labor market triggered a sell-off in the broad equity index. A weakening economy means lower corporate earnings and profits. What's there to cheer about?At first, out of habit, the S&P 500 shot higher and reached a new record after
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