U.S. stock futures fell Wednesday after Fitch downgraded the long-term rating for the U.S. and traders continued to assess the latest batch of second-quarter earnings results.Private sector companies added far more jobs than expected in July, pushed higher by a boom in leisure and hospitality jobs, payroll processing firm ADP reported Wednesday.Job gains for the month totaled 324,000, driven by a 201,000 jump in hotels, restaurants, bars and affiliated businesses. That total was well above the Dow Jones consensus estimate for 175,000, though it marked a decrease from the downwardly revised 455,000 in June.Market SnapshotAt 8:20 a.m. ET, Dow e-minis were down 102 points, or 0.29%, S&P 500 e-minis were down 21 points, or 0.46%, and Nasdaq 100 e-minis were down 107.25 point
Influence of Fitch's downgrade of US credit rating?
Fitch Ratings downgraded its US debt rating on Tuesday from the highest AAA rating to AA+, citing “a steady deterioration in standards of governance.” ----------- What's the influence of Fitch's downgrade? How will US treasuries move?
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