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Sierra CIO, James St. Aubin, Comments on Fed Rate Cut Expectations Bolstering Wall Street Despite Weak Jobs Data

Reuters

U.S. stocks ended a shade higher on Tuesday following softer-than-expected labor market data that reaffirmed expectations of an interest rate cut by the Federal Reserve.

Data on Tuesday showed that U.S. job openings fell to their lowest level in more than three years in April, signaling an easing in labor market tightness that supported a Fed rate cut this year. The U.S. Treasury yields slipped following the report.

The thoughts and opinions expressed in the article are solely those of the person speaking as of 6/4/2024, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

0145-SI00XCOM 07152024

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