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INTRADAY ALERT: July jobs report not "too hot" which is supportive of stocks finding near-term bottom ahead of July CPI

The July employment report (BLS) came in slightly below Street expectations. The headline figure was +187k jobs added in July vs Street looking for 200k, and the whispers out there of a very strong figure. Recall, from a market's perspective a "miss" to the downside more positive for stocks, as this is more consistent with what the Fed wants to see:

The overall picture remains a strong labor market, but one that is softening- NFP (non-farm payrolls) +187k vs Street 200k vs +209k last month (r...

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