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Last week, positive jobs and wage data ended the nine-week rally for US equities, with the S&P 500 declining by 1.5%. A factor in the lower 3.7% unemployment rate and the creation of 216K new jobs in November was increased hiring in the government sector, which may not continue. Wages grew by 4.1% compared to last year, supporting US households but raising concerns about inflation, as higher wages can lead to increased costs, especially in the labor-intensive service sector.
This week, ...
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