Major U.S. stock-indexes on Friday after data showed that U.S. job growth rose sharply in May and wages picked up, signs of momentum in the economy that revived expectations of an interest rate hike in September. The strong jobs data indicated that growth was gaining traction, but Wall Street took a dim view as a rate hike could increase the cost of borrowing. Traders are now betting the Fed will start raising interest rates as soon as October, and will make a second increase early next year. The Fed has kept overnight rates near zero since December 2008 and the economy's sluggishness had raised doubts the Fed would be able to raise rates this year.
Most of Dow stocks in negative area (25 of 30). Top looser - Verizon Communications Inc. (VZ, -1.56%). Top giner - JPMorgan Chase & Co. (JPM, +1.70%).
All S&P index sectors in negative area. Top looser - Utilities (-1.2%).
At the moment:
Dow 17849.00 -76.00 -0.42%
S&P 500 2091.50 -7.50 -0.36%
Nasdaq 100 4476.50 -20.00 -0.44%
10-year yield 2.39% +0.08
Oil 57.67 -0.33 -0.57%
Gold 1167.20 -8.00 -0.68%
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