From Yahoo Finance: 2024-06-08 00:23:00

US stocks dropped on Friday after a strong May jobs report pushed out expectations of a Fed interest-rate cut later this year. The economy added 272,000 jobs, exceeding estimates of 180,000, but the unemployment rate rose to 4.0%. Average hourly earnings rose to 4.1%, raising concerns about inflation. This pushed out the likelihood of a Fed interest rate cut to December. Seema Shah, Chief Global Strategist at Principal Asset, believes another strong jobs report could take a September rate cut off the table. Here are the closing numbers for US indexes and commodities.



Read more at Yahoo Finance: US indexes drop after big May jobs report resets rate-cut outlooks