24hoursworld

Wall Street rebounds after suffering its worst day in a year encouraged by employment data

Wall Street rebounds after suffering its worst day in a year encouraged by employment data

Treasury yields rose following the report showing job growth totaled 303,000 in March. While nonfarm payrolls were expected to increase by 200,000, according to Dow Jones estimates. Despite Friday’s rally, all three indices are still headed for a week of losses.

Overall, stocks were hit by higher rates this week. The Dow led the three main indices, with a loss rate of more than 2%. The S&P 500 and Nasdaq fell about 1% and 0.5%, respectively.

Wall Street recovers this Friday after suffering the worst session of the year Dow Jones Industrial Average in more than a year, as operators celebrated a better than expected jobs report and perhaps looking beyond an increase or cut in US interest rates.

He S&P 500 gains 1.1%, while the Dow up more than 340 points, or 0.9%. For his part, the Nasdaq Composite advances 1.5%. Despite Friday’s rally, all three indices are still headed for a week of losses.

Treasury yields were also boosted by the report showing that job growth totaled 303,000 in March. Nonfarm Payrolls Expected to Increase by 200,000, Dow Jones Estimates. Wages rose 0.3% for the month and 4.1% from a year earlier, both in line with estimates.

Wall Street: what is the feeling of the market

Investors are torn between wanting a strong economy to support stronger corporate profit growth and wanting a weaker labor market that gives the Federal Reserve the green light to start cutting interest rates.

markets-wall-street-shares-stock-markets-investments-finance

Reuters

It is worth remembering that the Dow plummeted around 530 points, or 1.4%, on Thursday, marking its biggest daily drop since March 2023 and its fourth consecutive losing session. A rise in crude oil and comments from Minneapolis Federal Reserve President Neel Kashkari, where he questioned whether interest rates should fall amid persistent inflation, prompted the correction.

Overall, stocks were hurt by higher rates this week. The Dow led the three main indices, with a loss rate of more than 2%. He S&P 500 and the Nasdaq they gave up around 1% and 0.5%, respectively. These moves mark a setback after the strong first quarter concluded last week, lor leading some market participants to question whether a correction is necessary after big gains.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts