The S&P 500 pulled back from near six-month highs on Friday as data showed a sharp slowdown in U.S. employment growth and President Donald Trump cranked up friction with Beijing with moves to ban WeChat and TikTok.
FILE PHOTO: Traders walk past the New York Stock Exchange as the building opens for the first time since March while the outbreak of the coronavirus disease continues in the Manhattan borough of New York, U.S., May 26, 2020. REUTERS/Lucas Jackson
“Does today’s number imply economic conditions are significantly improved? No, it simply suggests the labor market was static in July, showing no signs of renewed weakness that the increase in COVID-19 cases had threatened,” said Seema Shah, chief strategist at Principal Global Investors in London.
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