US: Wall St opens lower as upbeat jobs report dampens rate-cut hopes

WALL Street opened lower on Friday (Dec 8) as stronger-than-expected US job growth and a drop in the unemployment rate signalled resilience in the labour market, dampening hopes that the Federal Reserve would cut interest rates by early next year.

The Dow Jones Industrial Average fell 32.56 points, or 0.09 per cent, at the open to 36,084.82.

The S&P 500 opened lower by 9.39 points, or 0.20 per cent, at 4,576.20, while the Nasdaq Composite dropped 60.54 points, or 0.42 per cent, to 14,279.46 at the opening bell. REUTERS