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Major Gulf markets mixed ahead of US economic data

September 3 (Reuters) – Major Gulf stock markets were neutral in early trade on Tuesday, ahead of a slew of US economic data that might influence how far the Federal Reserve will lower interest rates later this month.


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The U.S. ISM manufacturing survey, expected later in the day, and notably jobs data on Friday, will be critical in determining whether the Fed cuts rates by 25 or 50 basis points at its September 18 meeting.


Economists expect the ISM survey to improve but stay in contractionary zone at 47.5 in August. On Friday, economists expect a 160,000 increase in non-farm payrolls (NFP) and a drop in the unemployment rate to 4.2%.

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