Stocks Opened Lower after Strong Jobs Report

U.S. stocks opened moderately lower on Friday after a stronger-than-expected June jobs report. The Dow Jones Industrial Average latelt fell 146.30 points, or 0.54%, to 26,819.70. The S&P 500 was off 19.94 points, or 0.67%, to 2,975.88. The Nasdaq Composite declined 50.37 points, or 0.62%, to 8,119.86.

Oil futures prices fell Friday as choppy trading continued in the wake of an extension to OPEC production curbs and ongoing tensions in the Middle East. August West Texas Intermediate crude fell 81 cents, or 1.5%, at $56.41 a barrel. September Brent slipped 12 cents, or 0.2%, at $63.18 a barrel.

The U.S. economy added 224,000 nonfarm payrolls during June, according to the Bureau of Labor Statistics. May’s figures were revised to 72,000 positions, down from the previously reported 75,000. Employment growth now averages 172,000 per month this year. The unemployment rate ticked up to 3.7%.

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