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US: Wall Street opens lower after strong jobs data

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US stocks slipped at the open on Friday as a strong rebound in US job growth in June dashed hopes of an aggressive interest rate cut by the Federal Reserve later this month.

[NEW YORK] US stocks slipped at the open on Friday as a strong rebound in US job growth in June dashed hopes of an aggressive interest rate cut by the Federal Reserve later this month.

The Dow Jones Industrial Average fell 98.25 points, or 0.36 per cent, at the open to 26,867.75. The S&P 500 opened lower by 11.57 points, or 0.39 per cent, at 2,984.25. The Nasdaq Composite dropped 46.95 points, or 0.57 per cent, to 8,123.28 at the opening bell.

REUTERS