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The S&P 500 Is Reaching a Top, Here's the Case for Why


Stocks gain after the Labor Department reports the U.S. economy added 217,000 jobs in May, but Platinum Partners president Uri Landesman tells TheStreet's Joe Deaux that he thinks the S&P 500 is about to reach a top. Landesman says he doesn't expect the index to rise higher than 1,975, and that the market could pull back by some 400 points. Landesman also weighs in on the upcoming midterm elections, which he suggests favors the Republicans. While the jobs numbers should bode well for Democrats, Landesman thinks many Americans are still struggling with too low wage growth.