TELETRADER News
7/8/2022, 3:32 PM (Source: TeleTrader)
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Wall Street kicks off lower as jobless data surprises

Major stocks on Wall Street began the last trading day of the week in negative territory despite the data revealing better-than-expected nonfarm payrolls figures over the previous month.

The significant increase in the total nonfarm payroll employment across the United States comes in favor of the Federal Reserve's plans to substantially increase its key interest rates at upcoming FOMC meetings in the coming months.

The Nasdaq 100 plunged 0.83% or 100 points at the opening bell, while the Dow Jones fell by 0.20%, and the S&P 500 declined by 0.39%. The euro stood flat against the dollar after reaching a 20-year low to sell for 1.01575 at 9:35 am ET.

Baha Breaking News (BBN) / ND