Stock market today: Wall Street gains ground following surprisingly strong US jobs report
==========
Stocks rose on Wall Street and Treasury yields climbed following a hot U.S. jobs report. The S&P 500 rose 0.9% and the Dow Jones Industrial Average gained 279 points, or 0.7%. Technology companies led the march higher, with chipmaking giant Nvidia rising 2.1% and Google's parent company, Alphabet, rising 1.1%. U.S. employers added a surprisingly strong 303,000 workers to their payrolls in March. The strong job market has helped fuel consumer spending and earnings growth for businesses, amounting to strong economic growth overall. The robust job market has also sparked concerns about inflation creeping higher, which could delay any rate cuts by the Federal Reserve. However, Friday's report showed that wages rose a modest 0.3% for the month, which puts less upward pressure on inflation, and Wall Street still expects the Fed to begin cutting rates in June. Treasury yields climbed following the jobs report. The yield on the 10-year Treasury rose to 4.37% from 4.31% just before the report was released. The two-year yield rose to 4.73% from 4.65% just prior to the report. The stock market seems to be accepting the strong jobs report as good news, with consumer spending and corporate profits remaining important for investors.
#StockMarket #WallStreet #UsJobsReport
https://thehill.com/homenews/ap/ap-business/ap-stock-market-today-wall-street-points-higher-before-the-opening-bell-ahead-of-us-jobs-report/
The Hill /
npub1uf…vwj43
2024-04-05 20:01:11
Author Public Key
npub1uf9ht809jfjawes35uqsxnj7hyjqsdyxypewh4d869swy74vldeq0vwj43Published at
2024-04-05 20:01:11Event JSON
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"content": "Stock market today: Wall Street gains ground following surprisingly strong US jobs report\n==========\n\nStocks rose on Wall Street and Treasury yields climbed following a hot U.S. jobs report. The S\u0026P 500 rose 0.9% and the Dow Jones Industrial Average gained 279 points, or 0.7%. Technology companies led the march higher, with chipmaking giant Nvidia rising 2.1% and Google's parent company, Alphabet, rising 1.1%. U.S. employers added a surprisingly strong 303,000 workers to their payrolls in March. The strong job market has helped fuel consumer spending and earnings growth for businesses, amounting to strong economic growth overall. The robust job market has also sparked concerns about inflation creeping higher, which could delay any rate cuts by the Federal Reserve. However, Friday's report showed that wages rose a modest 0.3% for the month, which puts less upward pressure on inflation, and Wall Street still expects the Fed to begin cutting rates in June. Treasury yields climbed following the jobs report. The yield on the 10-year Treasury rose to 4.37% from 4.31% just before the report was released. The two-year yield rose to 4.73% from 4.65% just prior to the report. The stock market seems to be accepting the strong jobs report as good news, with consumer spending and corporate profits remaining important for investors.\n\n#StockMarket #WallStreet #UsJobsReport\n\nhttps://thehill.com/homenews/ap/ap-business/ap-stock-market-today-wall-street-points-higher-before-the-opening-bell-ahead-of-us-jobs-report/",
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