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US30 consolidates in a bearish pennant below 200 SMA, signaling potential for further downside

DOW JONES was down on Monday morning after testing the high level of 44157 in the last trading session as Friday’s weak jobs report showed nonfarm payrolls rose by just 73,000 in July, far below expectations, with prior months revised down by 258,000, pointing to a deeper labor market slowdown. Markets are now nearly fully pricing in a Fed rate cut in September, with over 63 basis points of easing expected by year-end.