US stocks head lower as jobs surge dims hopes for a rate cut

U.S. stocks edged lower and bond yields rose Friday afternoon as Wall Street closed in on a downbeat finish to an otherwise solid week of gains for the broader market. Investors were rattled by government data showing an unexpected burst of hiring in June that sowed doubts on Wall Street about whether the Federal Reserve will decide to lower interest rates later this month. The pickup in hiring could give the central bank pause later this month when its policymakers are scheduled to meet and consider cutting the Fed’s benchmark interest rate.

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Source:: Yahoo News

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