The Dow and S&P spent the whole day in negative territory
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| | 7/05/2019 | |
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Stocks Retreat from Records on Rate Cut Anxiety | By Karee Venema | | The Dow was down more than 230 points at its session low after this morning's impressive payrolls report lessened expectations for a half-point rate cut at the Fed meeting in late July -- though markets are still pricing in near-unanimous projections for a 25 basis point cut. The blue-chip index pared these losses significantly by the close, as bank stocks rose on surging bond yields. The S&P and Nasdaq also eased back from Wednesday's record highs, though all three indexes notched impressive weekly gains. Continue reading for more on today's market, including: | >> Continue reading... | |
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