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Bloomberg News Now: July Jobs Shock, Market Reaction, White House Legal Setback
Posted
August 7, 2026
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5:38Now PlayingThe July jobs report shows a surprise loss of 23,000 jobs and major downward revisions, raising questions about labor‑market momentum and the Fed’s next move. Markets react with falling Treasury yields and shifting rate‑hike expectations. Corporate earnings disappoint at Sweetgreen, Wendy’s and Under Armour. In Washington, Todd Blanche’s attorney general nomination faces a tight Senate vote, while a federal court rules President Trump lacked authority to build a new White House ballroom. Abroad, negotiations to reopen the Strait of Hormuz continue, and Saudi Arabia, Turkey and Pakistan sign a major defense pact.
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