Good fortune does not come in pairs, and misfortune does not come alone. From the perspective of the U.S. economy, there is another piece of data that is not good news. Tonight, GrayChristmasInc announced that the Challenger job cut data reached 153,074 people, while the market expectation was only 54,064 people, resulting in an actual increase of 100,000 job cuts.

Moreover, according to employer reports, the layoffs are mainly due to cost-cutting and AI replacing human labor. Do you remember what I mentioned about the main reason for judging whether the U.S. economy is entering a recession? It's the unemployment rate. Recently, there has been a wave of large-scale layoffs in the U.S., and the labor market data is expected to look very bleak.

However, from another perspective, the main reason for the Federal Reserve to cut interest rates is also to look at labor market data. Powell himself has stated that if the labor market continues to deteriorate, interest rate cuts will be necessary to alleviate pressure. In simpler terms, the worse the labor market is, the more the Federal Reserve will consider cutting rates. Therefore, from this angle, the probability of the U.S. cutting rates again in December should be higher.

If the market realizes that it can turn misfortune into opportunity, there should be a rebound.

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