Futures Fall  as Fed Rate Cut Expectations Lowered  By Investing.com

© Reuters.

Investing.com – U.S. futures were lower on Monday as the strong jobs report last Friday continued to weigh on markets around the world.

The creation of in the U.S. in June – more than expected and a strong rebound from 72,000 in May – dented hopes for an aggressive loosening of monetary policy without banishing fears of a continued slowdown in the world economy. A rate cut of 25 basis points is still anticipated for the Fed’s .

fell 32 points or 0.4% by 6:40 AM ET (10:40 GMT), while slipped 66 points or 0.3% and inched down 6 points or 0.2%.

Boeing (NYSE:) was among the hardest hit in premarket trading, falling 1.7% after a Saudi Arabian airline cancelled a provisional order for 30 737 Max jets. The airplane maker is still waiting for the Federal Aviation Association to say when it will allow the grounded model to fly again.

Deutsche Bank (NYSE:) slipped 0.5% after it announced it would cut 18,000 jobs in an effort to restore long-term profitability. The bank’s shares have rallied some 20% since details of the restructuring started to leak out, and are consequently vulnerable to some profit-taking.

Apple (NASDAQ:) declined 1.7%, while Tesla (NASDAQ:) was down 0.8% and Micron (NASDAQ:) fell 0.8%.

Elsewhere, AMD gained 1.8% after it released a new graphics card, while cybersecurity firm Symantec (NASDAQ:) jumped 3.2% after Bloomberg reported that Broadcom (NASDAQ:) has secured financing for a takeover bid that could be as high as $22 billion. Bloomberg also hinted at the chance of a bidding war: its sources said former Symantec CEO Greg Clark is in talks with buyout groups Advent and Permira Holdings over a possible rival bid.

In commodities, fell 0.1% to $57.45 a barrel, while rose 0.5% to $1,407.35 a troy ounce. The , which measures the greenback against a basket of six major currencies, was flat at 96.852.

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