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Benzinga
Benzinga
Business
Piero Cingari

Weak Jobs Cement Fed Rate Cuts–And Wall Street Eyes Records Again

US Federal Reserve ADP the Federal Reserve
Federal,Reserve,Building,At,Washington,D.c.,On,A,Sunny,Day.

Wall Street could be marching into a bad-news-is-good-news environment, as deteriorating labor market data bolsters the odds of imminent rate cuts — potentially giving stocks the lift they need to break new records.

After a brief pullback from last week's all-time highs, the S&P 500, tracked by the Vanguard S&P 500 ETF (NYSE:VOO), recovered strongly and now sits just 0.5% below its all-time high.

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