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07-08-2019, 08:20 AM
Wall Street set to open lower as aggressive rate cut hopes recede

Hopes that the U.S. central bank would cut rates to counter any hit to economic growth from a prolonged U.S.-China trade dispute had helped Wall Street's main indexes rebound from a slump in May and hit record closing highs last week. While a rate cut is expected at the Fed's July 30-31 meeting, the surprisingly strong U.S. jobs data on Friday has led traders to reassess how sharply the central bank would lower key lending rates. Bets of a 50 basis point cut have plunged to 1.8%, from about 20% a week ago, according to CME Group's FedWatch program.

https://finance.yahoo.com/news/wall-street-set-open-lower-131057649.html?.tsrc=rss