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Dow Jones Rises on Stronger-Than-Expected Jobs Data, Fed Rate Cut Odds Dip
Dow Jones Rises on Stronger-Than-Expected Jobs Data, Fed Rate Cut Odds Dip
22
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BTCCSquare news:
The Dow Jones Industrial Average (DJIA) rebounded in early trading Thursday after U.S. jobless claims fell below expectations. Initial claims dropped to 229,000 for the week ended August 23, while continuing claims declined to 1.954 million. The labor market's resilience has reduced the perceived likelihood of a September Fed rate cut to 85.3%, down from 88.7%.
Employers remain cautious amid elevated trade tensions, with the U.S. tariff rate at its highest level since 1933. Yet unemployment continues to hover between 4.0% and 4.2%, showing remarkable stability despite geopolitical headwinds. Market participants now watch whether the Fed will prioritize strong employment data over global growth concerns.
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