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Dow Jones Shrugs Off Historic Jobs Revision as UnitedHealth Leads Rally
Dow Jones Shrugs Off Historic Jobs Revision as UnitedHealth Leads Rally
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BTCCSquare news:
The Dow Jones Industrial Average recovered from early losses despite a record downward revision of 911,000 jobs by the Bureau of Labor Statistics—the largest percentage adjustment since 2009. August's anemic 22,000 payroll additions against expectations of 75,000 intensified concerns about labor market fragility.
Markets now price in a 100% probability of Fed rate cuts at the September FOMC meeting, with traders anticipating either 25 or 50 basis point reductions. This dovish tilt could benefit risk assets, including cryptocurrencies, as investors seek alternatives to traditional markets.
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