US stocks dip after job growth tops estimates

  • 📰 malaymail
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 86%

Business News News

Business Business Latest News,Business Business Headlines

NEW YORK, July 8 — Wall Street stocks retreated early today following employment data underscoring the strength of the US labour market but also suggesting more Federal Reserve...

NEW YORK, July 8 — Wall Street stocks retreated early today following employment data underscoring the strength of the US labour market but also suggesting more Federal Reserve interest rate hikes ahead.

Average hourly earnings rose to cement a 5.1 per cent increase over the past 12 months, the report said. “That implies that real earnings growth remains negative, which further implies that there is apt to be pressure on discretionary spending the in coming months,” he said. The broad-based S&P 500 shed 0.5 per cent to 3,884.23, while the tech-rich Nasdaq Composite Index dropped 0.5 per cent to 11,559.45.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines