00:00 Speaker A
Now, for our call of the day, as that jobs report release is getting closer, we want to look at more of its potential ripple effects. Now, I mentioned earlier that the S&P 500 recently hit record highs. Part of that drive higher has been because of optimism about trade deals being done. But there's also optimism about the Fed cutting rates. Weaker economic data in the past several weeks has pushed the markets to pricing two rate cuts more confidently. A month ago, it was only pricing in one more cut. And if that weaker data stream continues with today's jobs reports, then that should further boost rate cut bets. Now, the argument for a weaker number seems pretty logical, as well, as well as that weak economic data, there's more, there's those immigration policy changes and federal layoffs.
