Market Watch: Jobs Report Creates Chaos

shutterstock_103610651

U.S. stocks moved forward to open the week on Monday, as investor sentiment rebounded from over the better-than-expected jobs report from Friday. Many believed the report will play a considerable role in leading to an interest rate hike.

An increasing number of experts called for a June rates hike following the report, which saw 295,000 new jobs created in February. This was far better than the expected 240,000, and also outpaced January’s figure of 257,000.

In the often-confusing culture of Wall Street, this report—hailed as good news everywhere else—led to fear and selling, as the Dow dropped 278 points on Friday in the wake of the report.

Elsewhere this week, it’ll be relatively quiet on the data side. Perhaps the big news of the week comes today across the Atlantic, where the European Central Bank will launch its bond buying program—expected to last the rest of this year and well into 2016.

As of 2 p.m. Monday, here are the starting numbers from Wall Street:

Dow Jones Industrial Average: 18,015.56 (+158.78)

NASDAQ: 4,942.96 (+15.59)

S&P 500: 2,081.10 (+9.84)

Phil Cannella
Partnered with CBS Radio Network, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

@phillipcannella

Phil Cannella a revolutionary thinker. Phil Cannella's cause is the Phil Cannella Crash Proof Retirement system. Phil Cannella has worked for decades.
Get the truth on how Wall Sts stacked against you, on The @CrashProofShow Sat at 10 AM on @1290wjno in FL, and 11 AM on @TalkRadio1210 in PA - 1 year ago
Phil Cannella

Leave a Reply

Your email address will not be published.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