Wall Street opens lower despite strong employment data

Friday, 05. July 2019 15:38

Markets in the United States continued to trade with losses shortly after the opening bell on Friday, despite the US Bureau of Labor Statistics report which indicated stronger-than-expected employment data. In the meantime, market expectations of an interest rate cut of 50 basis points plunged from 27% to just 11.1% minutes after the data on labor was published. Multiple presidents of individual US Federal Reserve banks recently indicated that the rate cut would be premature while reminding that the decision on this issue would be reached this July.

The Dow Jones Industrial Average index slid 0.36% shortly after the session's start, weighed down by JPMorgan Chase & Co. losses of 0.86%. The Nasdaq 100 was trading 0.66% lower, impaired by NVIDIA Corporation and Electronic Arts Inc. At the same time, the S&P 500 decreased by 0.53%, also pushed down by Electronic Arts.

The euro decreased by 0.52% against the dollar, buying $1.1225 at 9:37 am ET.

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