Employment Report Looms Over Potential Cooling of US Economy

The U.S. economy may be showing signs of cooling down, but it will take several months of data to confirm this trend. One important piece of the puzzle is the employment report, which is closely watched by economists and investors. Our Chief Equity Strategist and Economist, John Blank, provides insight on this topic.

Recently, there was an employment report released in early June, which helped shed some light on the state of the economy. The next employment report is due on Friday, July 5th, and it is expected to provide further clarity on whether the economy is indeed cooling down.

In addition to the employment report, there has been a lot of economic data released recently that supports a cooling scenario. Investors are also paying close attention to tomorrow’s PCE report for clues about possible Federal Reserve rate cuts. Despite this, doubts remain about the likelihood of a rate cut this year.

Consumer spending has softened, and retail sales have been sluggish, indicating lackluster GDP growth in the near future. The housing market, which is a key economic indicator, has also shown signs of slowing down. While home listings are on the rise