Quartz·1 min read·medium
July's job losses convinced traders the Fed is done raising rates, and stocks rallied
✦AI Summary
U.S. job growth in July fell significantly below expectations, leading traders to believe the Federal Reserve will halt interest rate hikes. This economic data triggered a rally in the stock market.
The U.S. economy shed 23,000 jobs in July, far below forecasts of an 83,000 gain, shifting trader expectations away from a September rate hike
businesseconomy
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