Analysts: Job data revisions further fuel Fed rate cut arguments

Michael James, managing director of equity trading at Rosenblatt Securities, said the revised U.S. jobs data further fueled the Fed's case for a rate cut. "We'll get more information from the Consumer Price Index (CPI) Thursday morning, but the meaningful decline in labor force growth reinforces the case that the Fed will begin its rate cut cycle later this month," he said. "This led to a stronger overall stock market performance this morning."