US shares dipped on Friday as the strong jobs report for June wiped hopes for a 50-basis point Fed rate cut at the end of this month and probably a 0.25% trim as well.
The Dow lost 43.88 points, or 0.2%, to finish at 26,922.12, the S&P 500 index eased 5.41 points, or 0.2%, to close at 2,990.41, while the Nasdaq fell 8.44 points, or 0.1%, ending at 8,161.79.
At session lows during trading, the Dow was down 232.67 points or 0.8%, the S&P was off 27.73 points, or 0.9%, while the Nasdaq had retreated as many as 76.57 points or 0.9%.
On Wednesday, the Dow rose 179.32 points, or 0.7%, at 26,966; the S&P 500 index set its third straight record close, rising 22.81 points, or 0.8% to 2,995.82 and the Nasdaq reached an all-time high of 8,170.23, adding 61.14 points, or 0.8%.
But they still rose over the last week. the S&P 500 added a solid 2.2%; The Dow was up 1.5% and the Nasdaq rose 2.4%.
For the week other markets gained with eurozone shares up 1.6%, Japanese shares added 2.2%, Chinese shares rose 1.8% and Australian shares enjoyed a 2% gain.
The June 30 reporting season starts modestly this week with Delta Airlines, Pepsi Co, Levi Strauss and Infosys down to report the June quarter figures.
