In today's volatile markets, is bad news still good news? Or maybe the bad news is so bad it could just be bad?
A 'Now Hiring' sign posted on the window of a business looking to hire workers on May 05, 2023 in Miami, Florida.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribefor a second day, but the Dow Jones Industrial Average managed to buck the trend with a slight rise. Likewise,fell to 7.
This confusion is because the U.S. Federal Reserve has a dual mandate, which often conflicts with each other: to preserve price stability and maximize employment. Now that inflation seems to be cooling, the Fed's turning its focus to the jobs market..
Bostic's comments were released around the same time as the disappointing JOLTS survey, giving his comments extra weight. Bostic also acknowledged that "the data and our grassroots feedback describe an economy and labor market losing momentum." In the face of the JOLTS report and Bostic's comments, traders now think there's a 45% chance a 50-basis-point cut is on the table for the Fed's September meeting, according toThat hope might have halted more serious losses for major indexes. In fact, markets were mixed, reflecting the confused environment. TheIf you haven't seen the meme already, Google "kombucha girl," or Brittany Broski.
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