VIDEO: Jobs Data Wows, but a Downer for Rate-Cut Hopes
Let's connect the smartphone market dots, and discuss this week’s big earnings reports to come.
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Chris Versace joins Schwab's Morning Movers (video below) to discuss the latest labor market data and gross domestic product print. And, wow, the ADP data landed with a big number and "good report" for the economy. But, says Versace, this is likely not good news for investors looking for a rate cut.
Fed Chair Jerome Powell and the Federal Open Market Committee will announce their latest rate decision later today, and Versace believes the economic reports give the Fed more wiggle room to wait on cutting rates.
He also believes it'll be a wait-and-see environment as trade deals take shape. The odds of a rate cut could even shift to October's FOMC meeting instead of September's.
Finally, Versace give his take on tech-sector earnings and what to watch in Microsoft MSFT and Meta META reports.
At the time of publication, TheStreet Pro Portfolio was long META and MSFT.
