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Stock futures have started the third quarter fairly tamely so far, after the best second quarter since 1938. Interestingly, although quarterly gains of 20% are quite rare, future strong gains are quite normal after a big quarter. That said, the third quarter has historically been the weakest of the year.A widely followed indicator for the upcoming US non-farm payrolls figure was released today, with the ADP employment report coming in slightly less than consensus. However, the big surprise was in the May data which saw a stunning revision from a loss of 2.76 million jobs to a gain of 3.... Read More

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