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Indicator Spotlight

Stronger Philly Fed Momentum Not Enough Without Labor Confirmation

by Felix-Antoine Vezina-Poirier, Chief Strategist  

The July Philly Fed beat expectations with broad improvement in activity, but low growth, inventory buildup and margin pressure remains a risk for equities. The headline index rose to 15.9 from -4.0 in June. New orders, shipments, and employment all rebounded…

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