Strong jobs report puts Wall St. on track for second losing week

Following the report, Wall Street's top banks said they expect the Fed to begin raising interest rates in September, followed by another increase before the end of the year, according to a Reuters poll. "This certainly puts more ammunition in the Fed's plan to start lift-off in September," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. At 3:08 p.m., the Dow Jones industrial average fell 42.11 points, or 0.24 percent, to 17,863.47,