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Wall Street is worried that strong jobs data in June will discourage the Fed from cutting rates

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7/05/2019

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Strong Jobs Data Weighs on Stock Futures

By Lillian Currens

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Dow futures are trading below fair value this morning, cooling from Wednesday's all-time highs after a better-than expected June payrolls report -- which has some investors tempering their expectations for a July interest rate cut from the Fed. Payrolls ramped up by a stronger-than-forecast 224,000 in June, while the unemployment rate unexpectedly ticked up to 3.7%. On the global economic front, a Ministry of Commerce spokesman from China said Thursday that a trade deal with the U.S. can't be reached unless all tariffs are removed. 

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