It’s a market cliche that a “Goldilocks” economy is good for stocks. Over the past 18 months an economy regularly defying pessimistic expectations swept away any prognosticators worried it would be “too cold.”
The JOLTS report prompted an uptick in Fed fund futures pricing in a half-percentage-point rate cut at the Federal Reserve’s meeting this month. Between the anticipation of monetary stimulus and the fact that stocks tumbled on Tuesday, the equity reaction was muted.
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