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Wall Street Opens Lower After Payrolls Report

Wall Street Opens Lower After Payrolls Report

 Wall Street‘s main indexes opened lower on Friday after data signaled resilience in the labor market in the face of the Federal Reserve’s aggressive monetary tightening.

Data showed U.S. job growth slowed more than expected in June after surging in the prior month, but labor market conditions remain tight, with the unemployment rate retreating from a seven-month high and fairly strong wage gains continuing.

The Dow Jones Industrial Average fell 85.19 points, or 0.25 percent, at the open to 33,837.07.

The S&P 500 opened lower by 7.05 points, or 0.16 percent, at 4,404.54, while the Nasdaq Composite dropped 10.98 points, or 0.08 percent, to 13,668.07 at the opening bell.

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