Dow Jones: Points and Stocks

dow jones: The Nasdaq Composite Index COMP, 0.54% declined 63.41 points, or 0.8%, to end at 8,098.38, according to Market Watch. At session lows, the Dow had lost 177.25 points, or roughly 0.7%, the S&P retreated 20.29 points, also 0.7%, while the Nasdaq traded as many as 83.4 points lower, a loss of 1%. 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. What are major indexes doing The Dow Jones Industrial Average DJIA, -0.08% fell 115.98 points, or 0.4%, to close at 26,806.14, while the S&P 500 index SPX, 0.12% declined 14.47 points, or 0.5%, to finish at 2,975.95. But stocks pulled back Friday to end slightly lower after a bigger-than-expected jump in June nonfarm payrolls saw traders scale back expectations for rate reductions. Analysts said testimony before Congress by Fed Chairman Jerome Powell will likely be a big driver for stocks this week. What drove the market Traders continue to look for the Federal Reserve to cut rates when policy makers meet at the end of the month, but fed-funds futures show investors cut bets for a 50 basis point reduction since Friday morning. (news.financializer.com). As reported in the news.