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US job growth cooled amid growing economic uncertainty

1. U.S. added 73,000 jobs in July, below expectations. 2. Unemployment rate slightly up at 4.2%, as estimated. 3. May and June job gains revised down by 258,000. 4. Private sector added 83,000 jobs, missing 100,000 forecast. 5. Government jobs fell by 10,000, mainly in federal sector.

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FAQ

Why Bearish?

The significant downward revisions in prior months reflect weakening labor market, reminiscent of previous downturns where similar revisions preceded bearish trends in S&P 500.

How important is it?

The jobs report directly affects economic outlook and investor confidence, crucial for S&P 500 valuations.

Why Short Term?

Immediate investor sentiment likely to react negatively, similar to past reports showing economic slowdown impacting market performance quickly.

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