Investment Updates
The Goldilocks Economy Drove Stocks Higher This Past Week
Published Friday, November 3, 2023 at: 8:30 PM EDT
The Standard & Poor’s 500 stock had its best week in nearly a year, following a weaker than expected jobs report that suggested the Federal Reserve’s 19-month monetary tightening campaign is slowing growth enough to quell inflation but not so much as to cause a recession. It’s a Goldilocks economy, not too hot and not too cold.
With 6.5 million job seekers and 9.6 million job opening, the red-hot labor market has cooled but remains strong. The excess demand for labor means that more jobs will be filled in the weeks ahead and the economy is likely to keep growing as those new workers earn income and spend it.
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