(As of 7:10am, PST)
Today marks the end of the month and the first quarter and
the markets are on track to close with the first monthly gain since November
and the largest gain since October. After one of the worst starts to a year in
history, the end of the quarter is looking to be positive for both the Dow and
S&P500. Stocks are relatively flat this morning in response to unemployment
reports and ahead of tomorrow’s payroll data. Many experts are attributing the
turnaround this month to stimulus from the European Central Bank and recent
news that the Federal Reserve will not raise rates in April. The reality will
set in as we begin the new quarter with earnings reports. The number of
Americans that applied for unemployment benefits through the end of March rose
more than expected and hit the highest level in two months. Layoffs remain low
as companies continue to add new jobs. Investors aren’t reacting too negatively
to the report as they wait for the closely watched nonfarm payrolls report to
come out tomorrow. Action was mixed around the world overnight with Europe
mostly in the red and Asia mixed. Oil is up in early trading.
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