The Nasdaq Composite hit a fresh record on Monday, and the S & P 500 is less than 1% below its all-time high. Neither mean investors should let their guard down. Goldman Sachs strategist Christian Mueller-Glissmann highlighted three risks to the market: "A large negative growth shock weighing on risky assets." "Large rate shock weighing on long-duration assets." "A deepening Dollar bear market." "So far Goldilocks has been escaping the bears — only the Dollar has been somewhat weaker. However, both the risk of growth and rate shocks remains," London-based Mueller-Glissmann noted. Cracks in the economy have begun to show, particularly in the labor market. The Bureau of Labor Statistics reported last week that the U.S. economy added only 22,000 jobs in August, well below the expected 75,000.

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