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This week in the markets

The markets dropped considerably Thursday when both the Fed and the ECB took the wait-and-see approach rather than take monetary action (this was particularly surprising for the ECB after it pledged to do “whatever it takes to save the Euro”. Conservatives continue to argue against another round of quantitative easing, but it’s pretty clear that investors are looking for decisive government action.

Friday saw the market rally around the new jobs report; the economy added 163,000 new jobs in July, which was much more than expected.

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