Investing.com-- The S&P 500 snapped a two-week wining streak despite a strong rally Friday as a stronger-than-expected jobs report didn't stoke a jump in wages, adding to hopes of a soft landing for the economy.added 1.2%. All three benchmarks, however, ended the week in the red as odds of a June rate cut fell.The unemployment rate came in at 3.8%, a fall from 3.9% the prior month, while average earnings rose 0.3% on a monthly basis, in line with expectations.
While the odds of a June Fed rate cut fell to 51% from 59% a day earlier, pushing Treasury yields higher, Morgan Stanley continued its call for a June cut. Iran, the third-largest OPEC producer, has vowed revenge against Israel for an attack on Iran's embassy in Syria on Monday, and Israel has vowed to defend itself.Oh wow doesnt matter what the report would have came in as. Bad jobs report we rally bc “rate cut hopes”. Good jobs report they rally us bc “soft landing hopes.” What a joke. Complete fraud.
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