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Wall Street's gains were more modest than yesterday's spike, following positive jobs data and an upbeat Beige Book.

Markets were a little more subdued following the spike in risk appetite the previous session and there really wasn’t too much going on. I suspect gains on Wall Street (S&P 0.3 per cent to 1544, Dow 49 points to 14,302 and Nasdaq flat at 3225) would have been stronger if not for the recent rally, for the simple reason that a jobs report came out last night suggesting further strong jobs gains in February. 198,000 to be exact.

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