The future of resumes?

A stronger-than-expected jobs report initially sparked a rally midweek, but the momentum quickly faded. Stocks then came under pressure as AI disruption fears spread across several industry groups.

Stocks bolted ahead last week as investors cheered the last big week of Q2 corporate reports and a Friday jobs update that put the spotlight on the Fed’s next move with short-term rates.

With policy rates already near the Fed’s estimated “neutral” level around 3.5%, investors should prepare for an environment where additional easing may be limited, reinforcing the case for strategies emphasizing income and duration management in fixed income portfolios.