Weak employment data, GDP growth revised down😿

The "bad news is good news" situation is here again, with weak ADP employment data coupled with a downward revision to GDP helping the S&P 500 to its fourth straight day of gains. ADP employment increased by 177,000 in August, lower than the 195,000 expected, although the previous value was also revised up from 324,000 to 371,000; in terms of GDP, although consumption and service spending increased, GDP growth in the second quarter increased from 2.4% It was revised down to 2.1%, mainly due to larger reductions in items such as commercial fixed investment, non-residential spending and pricing.

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