The stock markets in the United States fluctuated and eventually ended the trading on the red as investors evaluated the employment data released by the Department of Labor for the month of July.

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In addition, investors were concern about the credit markets as Argentina is on the brink of another default. Banko Espirito Santo (ELI:BES) was ordered by the Portugal central bank to raise more capital after reporting a huge loss for the second quarter.

According to the Department of Labor, the economy added 209,000 jobs in July, lower compared with the 230,000 jobs estimated by economist. The unemployment rate was 6.2% while the hours and wages are the same.

Bill Gross, founder and Chief investment officer of Pacific Investment Management Company (PIMCO) told Bloomberg that the Federal Reserve will remain accommodative since the wages in the United States did not increase.

According to Gross, wages are “not raging.” He added, “American wages on Main Street are Janet Yellen’s number one concern.”

Investors are also becoming more concern that the Federal Reserve would be compelled to raise interest rates earlier than expected because of the improving economy. Earlier this week, data showed that the U.S. GDP expanded to 4% on an annual basis in the second-quarter. Last month, the manufacturing sector grew at the fastest pace, a signal that U.S. factories will help boost the economy.

In an interview with CNBC, Richard Fisher, president of the Federal Bank of Dallas indicated that the timing for the first main interest rate hike moved up due to the strengthening economy and higher inflation.

“I have been arguing that the date of so-called liftoff has been moved forward. I believe personally, and we have moved that forward significantly… sometime early next year,” said Fisher.

U.S. Markets

• Dow Jones Industrial Average (DJIA)- 16,493.37 (-0.42%)
• S&P 500- 1,925.20 (-0.28%)
• NASDAQ- 4,352.64 (-0.39%)
• Russell 2000- 1,113.42 (-0.59%)

European Markets

• EURO STOXX 50 Price EUR- 3,072.57 (-1.38%)
• FTSE 100 Index- 6,679.18 (-0.76%)
• Deutsche Borse AG German Stock Index DAX- 9,210.08 (-2.10%)

Asia-Pacific Markets

• Nikkei 225- 15,523.11 (-0.63%)
• Hong Kong Hang Seng Index- 24,532.43 (-0.19%)
• Shanghai Shenzhen CSI 300 Index- 2,329.40 (-0.89%)

Stocks in Focus

The stock price of GoPro Inc (NASDAQ:GPRO) tumbled more than 14% to $40.97 per share after the maker of the most popular and versatile camera reported a wider net loss of $19.8 million for the second quarter. During the year-ago quarter, GoPro recorded a net loss of $5.1 million.

The shares of Expedia Inc (NASDAQ:EXPE) climbed more than 6% to $84.46 per share after the online travel service provider reported better-than-expected earnings for the second quarter. Expedia delivered $1.03 in earnings per share compared with the $0.76 consensus estimate of Wall Street analysts.

The Procter & Gamble Company (NYSE:PG) gained 3% to $79.65 per share after reporting strong financial results for the June quarter. The company said its core earnings were $0.95 per share, up by 20%. Its net sales were $20.2 billion. P&G Chairman and CEO A.G. Lafley said, “We met our objectives in a very difficult operating environment, delivered strong constant currency earnings growth, and built on our strong track record of cash returns to shareholders.”