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For the stock market, bad news is back to being good. Here's why, says a Goldman Sachs economist

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Even as the market gets excited by the idea of a soft landing, growth surprises aren't well received.

It’s arguably the last important week for the stock market this summer with payrolls data as well as Amazon and Apple earnings on tap.

About midway through last week’s Federal Open Market Committee press conference, Chair Jerome Powell started talking at length about how the central bank could shift to cutting interest rates. “We view the market’s outsized focus on inflation data as consistent with our forecast of a hold at both September and November meetings, because we expect a further decline in inflation to more than offset resilient labor market data and continued positive GDP growth in the eyes of the Fed.

Keep the bad is good mantra in the back of your mind as the ISM manufacturing report and job openings data gets released on Tuesday and the nonfarm payrolls report gets unleashed on Friday. The buzz The Fed’s senior loan officer survey, due at 2 p.m. Eastern. highlights the economic calendar that also includes Chicago PMI. Minneapolis Fed President Neel Kashkari said the central bank has been surprised how resilient the economy has been.Trucking company Yellow Corp. could file for bankruptcy as early as this week, The Wall Street Journal reported.Etsy ETSY has been withholding more of its seller funds than other platforms, a report says.

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