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Market Mood

The U.S. economy shows resilience, especially in the services sector, but signs of a slowdown are emerging, with manufacturing output down and a softening labor market as companies hesitate on hiring amid economic uncertainty. Investors are eyeing this Friday's non-farm payroll report for insights on labor market health and inflation, particularly the PCE index, with upcoming U.S. elections also in focus. In Europe, the ECB faces mounting pressure to cut rates by 50 basis points, potentially as early as December, pending this week's inflation and GDP data. Meanwhile, China’s economic performance is under scrutiny following new government stimulus measures, with its manufacturing PMI expected to indicate whether recovery is on track in the world’s second-largest economy.

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