US jobs report for July is 164,000 with average hourly earnings up 3/10s and the short version is that this is a good report according to some key analysts on Wall Street. Despite the lower revisions for the previous two months, the overall jobs market is maturing and some experts are now saying that they expect jobs growth to remain robust. The participation rate was reported higher at 63.0 with the unemployment rage at 3.7% and the market seems to be digesting the US-China trade talks with no problems.
Keep in mind that there are some firms that are holding back on Capex and this will play out as a slight negative for 2019 but it is clear that Trump has good advice and he, unlike most westerns, understands that to play with China, one must play the long game. Good report and with the rate cut from the Fed, Trump will have momentum in trader talks. He will not back down and to their credit, the Chinese face him off and never back down.