USA stocks close lower amid falling corporate shares

USA stocks close lower amid falling corporate shares

"The headline payrolls figures was pretty strong but wages were tepid, so on the whole a 25 basis-point cut would be justified as an pre-emptive move and I think the current market pricing is fair", said Naoya Oshikubo, senior economist at Sumitomo Mitsui Trust Asset Management.

The market rallied through much of June after the Federal Reserve signaled that it's prepared to cut interest rates to offset slowing global growth and the fallout from US trade conflicts.

Erdogan sacked Cetinkaya for refusing the government's repeated demands for rate cuts, laying bare differences between them over the timing of interest rate cuts to revive the recession-hit economy.

On the corporate front, AMD shares closed 1.71% higher after an upbeat analyst call, while Apple shares were down 2.06% at the end of the session after Rosenblatt Securities analyst Jun Zhang said he expects the tech giant's shares to continue to fell as consumers hold out for next year's 5G-enabled iPhone.

Investors have rushed to scale back Fed rate cut expectations following unexpectedly strong gains in U.S.jobs for June.

"Expectations about the number and timing of rate cuts have changed slightly."The Dow Jones Industrial Average .DJI fell 115.98 points, or 0.43%, to 26,806.14, the S&P 500 .SPX lost 14.46 points, or 0.48%, to 2,975.95 and the Nasdaq Composite .IXIC dropped 63.41 points, or 0.78%, to 8,098.38". In afternoon trade, the chances were 92% and 8%, respectively.

Greek 10-year bond yields fell by 14 basis points in early trade to hit new all-time lows of 2.016 percent, reversing the 12 basis point yield rise on Friday. Also on tap is the central bank's June policy meeting minutes, scheduled for release on Wednesday.

Investors will be listening closely for any hints on the central bank's interest rate policy on Wednesday and Thursday, when Powell delivers the Fed's semi-annual monetary report to Congress.

Rafael Nadal vs Joao Sousa, Wimbledon 2019
I played in (French Open secondary court) Suzanne Lenglen in Roland Garros, if I'm not wrong, in the second round. I'm like, Really, do we really have to do it? Berrettini was six when Federer lifted his first Wimbledon trophy.

The British pound was last quoted at $1.2515, within striking distance of $1.2481, its lowest since the "flash crash" on January 3 when the pound dropped to $1.2409.

Market watchers are also likely to focus on the start of the second-quarter earnings season next week.

The S&P/TSX composite index was down 69.74 points at 16,472.25.

Boeing Co's (BA.N) shares declined 1.5% after Saudi Arabian budget airline flyadeal said it would not proceed with a provisional $5.9 billion order for the planemaker's grounded 737 MAX aircraft, instead opting for a fleet of Airbus A320 jets.

Symantec Corp SYMC.O rose 3.5% after Jefferies said the cybersecurity firm is a "logical financial acquisition" amid reports of Broadcom Inc AVGO.O in advanced talks for a deal.

Shares fell on Wall Street overnight amid growing speculation an unexpectedly strong pickup in US employment growth last month lead the Federal Reserve to hold back on aggressively cutting its benchmark interest rate.

Declining issues outnumbered advancers for a 1.72-to-1 ratio on the NYSE and for a 2.15-to-1 ratio on the Nasdaq.

Elsewhere in emerging markets, Turkey's lira fell almost 2% on concerns about central-bank independence, after President Recep Tayyip Erdogan dismissed the bank's governor over the weekend.

Related News:



Most liked

Russia's flight ban for Georgia takes effect
Georgian's President Salome Zurabishvili urged Russian Federation not to further aggravate the situation by imposing sanctions. Moreover, the agenda will be also focused on limitation of money transfers to from Russian Federation to Georgia .

Taliban Agrees to Reduce Violence After Afghan Peace Talks in Doha
Several analysts said the joint resolution was a positive step because it listed specific conditions needed to achieve piece. But he also said they proudly told the visiting delegates that they had "defeated the U.S".

Dos Santos powers Mexico to eighth Gold Cup title
He passed the ball to Rodolfo Pizarro , who switched from the left flank to the right in the second half. We felt like he was going to give us the help that we needed centrally, and I think he did well.

Trump Unleashes Twitter Tirade Bashing Fox News
Or might the president find a new news outlet? Fox News has also hosted town halls with some of the 2020 Democratic presidential candidates.

Bulacan is drug war's 'bloodiest killing field — Amnesty International report
The group's appeal echoed a draft resolution proposed by Iceland at the UN rights council and backed mainly by Western nations. But if no one would testify against them, the narcs should be presumed to have acted with regularity, Guevarra said.

Article image Over a thousand Android apps collecting data without permission
If you're using an Android phone, you've definitely seen apps asking for permissions when you run them for the first time. Even some apps developers have found ways to obtain Mac address and also steal handset's unique IMEI number.

Klopp hopes Liverpool get 'addicted' to winning after Champions League success
Since then, the German manager has led Liverpool to two Champions League finals, including one final win. They have even offered the German manager a six-year deal to secure his long-term future at the club.

Joc Pederson puts on a show in the 2019 Home Run Derby
But it was a night that, though he ran out of gas at the end, if we're being honest, belonged to the young Blue Jays slugger. He's also the first Mets player to win the derby since Darryl Strawberry shared the title with Wally Joyner in 1986.

Perry breaks record as Australia smash England
England have not beaten Australia in a World Cup since 1992, the last campaign in which they ended up as finalists. England have a formidable record at Edgbaston, where Australia have a terrible history.

Volkswagen electric ID R race vehicle breaks Goodwood Hill Climb record
He had broken the record by completing the 1.86-kilometer track (1.15 miles) at Goodwood in the south of England in 41.18 seconds. The vehicle managed to impress the racing world using two electric motors that develop 680 horsepower and 650 Nm of torque.

Trump Says He's Planning Repeat of July 4 Event
He also made no mention of the intense rain and flash flooding that disrupted Washington, D.C., on Monday. It is far more limited in scope and could let some coal-fired power plants keep operating longer.

Samuel L. Jackson Has Joined Chris Rock's 'Saw' Reboot
Rock's entry will be the ninth flick in the " Saw " franchise, which has been a box office hit for Lionsgate. The last movie in the series, titled Jigsaw , was released in 2017 and grossed $100 million worldwide.

Seagull covered in curry tricks rescuers into thinking it's an exotic species
According to CNN , another seagull also turned orange after falling into a Value-Added Tax of chicken tikka masala back in 2016. Strangely enough, this isn't the first time a seagull in the United Kingdom needed a good cleaning after taking a curry bath.

Turkey continues to support peace, stability in BiH: Erdogan
He hasn't touched it since then, but also refused demands from Erdogan and his son-in-law, the finance minister, to cut rates . The combination of political volatility with a lack of confidence in monetary policy could renew Turkey's currency crisis.

See official pics of Sophie Turner in her wedding dress!
The "Game of Thrones" star had a v-neck, lace sleeves, cut-out back gown with a matching veil. Turner then thanked Morgan for referencing her signature sign off: "And that's the tea".