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Market Snapshot: Stock futures slightly lower as investors scale back rate-cut expectations

Stock-index futures edged lower Monday, pointing to a soft start for Wall Street, as investors scaled back expectations for rate cuts following last week’s strong June jobs report.

What are major indexes doing?

Futures on the Dow Jones Industrial Average YMU19, -0.36% were off 56 points, or 0.2%, at 26,830, while S&P 500 futures ESU19, -0.29% shed 5.4 points, or 0.2%, to 2,985. Nasdaq-100 futures NQU19, -0.39% declined 29.5 points, or 0.4%, to 7,822.

Need to Know:Weaker growth will offset a Fed rate cut — so sell stocks, warns Morgan Stanley

Stocks scored weekly gains in last week’s holiday-shortened action, with all three major indexes notching record closes on Wednesday.

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