Strong Jobs Report Tempers Rate Cut Hopes But Markets Rally On Powell Comments; Tech Giants Adjust To New EU Regulations As Bank Withdrawals Raise Concerns
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The January jobs report showed a strong labor market, causing doubts about Fed rate cuts this year. Powell indicated rate cuts aren't off the table, boosting markets.
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Economists expect 200,000 jobs added in February. A higher number could revive fears of higher rates for longer.
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Inflation data and the Fed's March projections will also be closely watched for rate cut signals.
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New EU tech regulations force changes at Apple, Google, and others - allowing more competition and consumer choice.
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Customers pulled $6B from New York Community Bank after it reported control issues, but it's not indicative of a bank run. The bank secured $1B in new investments.