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Barchart
Barchart
Rich Asplund

Stocks Turn Higher as Weak US Labor News Bolsters Fed Rate Cut Optimism

United States Morgan Stanley US Federal Reserve Dollar Tree ECB

The S&P 500 Index ($SPX) (SPY) today is up +0.31%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.48%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.40%.

Stocks today recovered from early losses and are trading mildly higher.  A decline in the 10-year T-note yield to a 2-week low today sparked some short covering in stocks after the US July JOLTS job openings fell more than expected to a 3-1/2 year low and boosted hopes for the Fed to cut interest rates by 50 bp at the Sep 17-18 FOMC meeting.

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