Wall Street Dips After Strong Jobs Report

Credit: Wochit
Published on July 5, 2019 - Duration: 00:35s

Wall Street Dips After Strong Jobs Report

According to Reuters, U.S. stocks slipped at the opening bell on Friday in response to a strong rebound in U.S. job growth in June.

The healthy jobs report dashed hopes of an aggressive interest rate cut by the Federal Reserve later this month.

The closely watched report led investors to scale back bets of a 50 basis point rate cut by the central bank.

Nonfarm payrolls rose by 224,000 jobs last month, the most in five months, the Labor Department data showed.

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