U.S. Stocks Open Lower Despite Big Jump in June Jobs By Investing.com

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© Reuters.

By Liz Moyer

Investing.com — U.S. stocks opened lower despite a robust jobs report for June that pushed aside, at least for now, ongoing fears about a recession.

At 9:30 AM ET the was down 39 points, or 0.1%, while the fell 0.4% and the fell 0.9%.

The economy added last month, compared with expectations for 268,000, while the unemployment rate stayed at 3.6%.

The tight labor market comes despite the Federal Reserve’s attempts to cool demand, and Friday’s number isn’t likely to knock the central bank off its goal of taming inflation by raising interest rates quickly. are that the Fed will raise rates by another 0.50 to 0.75 percentage point later this month.

Twitter Inc (NYSE:)shares fell 3.3% in premarket trading after a report in the Washington Post that Elon Musk’s deal for the social media company was in jeopardy.

Shares of GameStop Corp (NYSE:) fell 4% in the premarket after the videogame retailer said it had replaced its chief financial officer and would lay off employees. The company earlier announced a 4-for-1 stock split.

Oil rose. was up 2.2%, to $105 a barrel, and crude was up 2%, to $106 a barrel. was flat at $1,740.

 

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