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Wall Street Dips as Rate Cut Expectations Relax


Saturday, 6 July 2019 03:50 WIB

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U.S. stocks dipped on Friday, as the S&P 500 snapped a three-day streak of record closes, following an unexpectedly strong U.S. payrolls report that led investors to reassess how dovish a stance the Federal Reserve may take at its next meeting.

The U.S. Labor Department data showed nonfarm payrolls rose by 224,000 jobs in June, the most in five months, and solidly beating economists’ expectation of 160,000 additions.

The Dow Jones Industrial Average fell 43.88 points, or 0.16%, to 26,922.12, the S&P 500 lost 5.41 points, or 0.18%, to 2,990.41 and the Nasdaq Composite dropped 8.44 points, or 0.1%, to 8,161.79.

Source : Reuters


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