The US markets closed lower on Friday, with the Dow Jones Industrial hitting its worst losing streak since 2011’s debt-ceiling crisis, after the jobs report matched street's expectation, boosting the chances for a Federal Reserve interest-rate hike in September. Markets regained some ground in last leg of trade but still closed mostly in red. The Labor Department said non-farm payroll employment rose by 215,000 jobs in July following an upwardly revised increase of 231,000 jobs in June. The street had expected employment to climb by about 223,000 jobs, which would have matched the increase originally reported for the previous month. The strong employment data offers little reason to upend Federal Reserve Chairwoman Janet Yellen’s plan to lift rates, possibly at the next two-day meeting of the Federal Open Market Committee, which begins on September 16.
The Dow Jones Industrial Average lost 46.37 points or 0.27 percent to 17,373.38, the Nasdaq dropped 28.60 points or 0.42 percent to 6,718.49 while, the S&P 500 was down by 5.99 points or 0.29 percent to 2,077.57.
The Indian ADRs ended mostly in green on Friday, Dr. Reddy’s Lab was up by 0.75%, HDFC Bank was up 0.39%, Tata Motors was up 0.27% and Infosys was up 0.22%. On the other hand, ICICI Bank was down by 0.08% and Wipro was down by 0.03%.