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Employment data has caused quite a stir—market opinions vary, and there are leaked rumors, which naturally reduce credibility. However, once the Federal Reserve officials speak, the story changes, and they treat this data as new evidence of a soft landing for the US economy.
The US stock market did not disappoint. The S&P 500 hit a new high straight away, and its performance over the past two weeks has been solid, not just a fleeting moment. As economic data points in a positive direction, growth stocks and blue chips become more popular, and the indices rise accordingly. The flow of funds driven by these expectations is still quite strong.