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Weak Jobs Data Raises Fed Questions Again
The labor market is still holding up, but fresh ADP data suggests the rebound may not be as strong as investors hoped.
Chuck Zodda and Marc Fandetti break down the latest ADP jobs report, why hiring looks modest rather than resurgent, and how the Fed has to separate short-term labor weakness from longer-term structural changes in the economy. They also discuss renewed hopes for a deal to reopen the Strait of Hormuz, why oil prices and crack spreads are sending mixed signals, and whether China’s refinery activity could point to something more durable. Plus, they look at SpaceX’s first earnings…
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