Stocks fell on Friday after the strong jobs report lowered expectations for an interest-rate cut from the Federal Reserve this month.
The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite had rallied to all-time highs on Wednesday.
Financials - Sector - S - P - Benchmark
The financials sector of the S&P 500 was the benchmark index's biggest gainer, boosted by a rally in bank stocks.
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Stocks - Record - Levels - Friday - Jobs
US stocks slipped from record levels on Friday after a stronger-than-expected jobs report dimmed expectations that the Federal Reserve will cut interest rates later this month.
All the three major indices had rallied to record highs during a shortened trading session Wednesday ahead of Independence Day.
Here's how they closed on Friday:
A report from the Labor Department showed that employers added 224,000 nonfarm payrolls in June, rebounding from an unexpectedly weak showing in May.
Gains - Traders - Expectation - Fed - Interest
The robust gains prompted traders to review their expectation that the Fed will cut interest rates to support the economy. According...
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