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The Big Picture
An important risk the stock market isn't entertaining
Briefing.com Summary:*Consumer spending remains the economy's backbone despite record-low sentiment and persistent inflation pressures. *Slowing real wage growth threatens discretionary spending, earnings growth, and broader economic momentum. *A resilient labor market is sustaining spending, but the low-hiring environment leaves little margin for error. The stock market is not the economy. Case in point: the S&P 500, Nasdaq...