President Barack Obama's State of the Union address focused heavily on U.S. jobs and the improving American labor situation. S&P Capital IQ Chief Equity Strategist Sam Stovall tells TheStreet's Joe Deaux the president's speech won't have any affect on markets and it was intended to set the tone for the midterm elections in November. While investors parse through a rocky Wednesday in the markets, Stovall says the State of the Union is not one of the catalysts.

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