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Market Snapshot: Stocks end slightly lower after strong jobs report puts Fed rate cuts in question

U.S. stocks closed slightly lower Friday, though above session lows, after the monthly government payrolls report estimated the economy added a better-than-expected 224,000 jobs in June, reducing the chances of multiple Federal Reserve rate cuts by the end of the year.

Equities logged weekly gains. The main U.S. stock indexes ended a holiday-shortened session on Wednesday at simultaneous record highs for the first time in 17 months.

U.S. markets were closed on Thursday for Independence Day.

How did benchmarks fare?

The Dow Jones Industrial Average DJIA, -0.16% shed 43.88 points, or 0.2%, to finish at 26,922.12, the S&P 500 index SPX, -0.18% declined 5.41 points, or 0.2%, to close at 2,990.41, while the Nasdaq Composite Index COMP, -0.10% gave up 8.44 points, or 0.1%, ending at 8,161.79.

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