US stocks close down, snap winning streak

US stocks close down, snap winning streak

New York, July 6 (IANS) US stocks closed lower, snapping a four-session winning streak, as Wall Street shifted its focus from Brexit to the uncertainty over the timing of a next rate hike.

The Dow Jones Industrial Average was down 108.75 points, or 0.61 per cent, to 17,840.62 on Tuesday, Xinhua news agency reported.

The S&P 500 lost 14.40 points, or 0.68 per cent, to 2,088.55. The Nasdaq Composite Index shed 39.67 points, or 0.82 per cent, to 4,822.90.

Investors will keep a close eye on Friday’s nonfarm jobs report this week for more clues on the US Federal Reserve’s next rate hike.

“This week’s highlight is the June employment report,” said Chris Low, chief economist at FTN Financial on Tuesday.

US stocks market was closed on Monday for the Independence Day holiday.

US stocks rallied in the past week as global markets rebounded from the previous week’s losses after Britain’s vote to leave the European Union.

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