After a long holiday weekend, Wall Street began the new trading week with investors eagerly awaiting the latest jobs report this week. Even though the market finished mix today, new figures released from the CNBC/Moody’s Analytics Report showed 1st quarter-2016 economic growth was just 0.9 percent. The numbers translated into weakness in consumer spending and a wider-than-expected trade gap.
Diane Swonk of DS Economics told CNBC that the latest numbers squarely put the blame on a cautious U.S. consumer base.
“It’s not a polar vortex winter. You can’t blame the weather this year. It’s the consumer. I think there’s a problem with the measurement but at the end of the day if the world were as good as we’d hoped, people would feel better and it’s not showing up.”
See more below.
Oil finished down 0.2 percent closing at $39.39 a barrel.
Here are the final numbers from Monday, 3/28/16 on Wall Street
Dow Jones Industrial Average: 17,535.25 (+19.52/ -.11 %)
NASDAQ: 4,766.79 (-6.72/ -0.14 %)
S&P 500: 2,037.05 (+1.11/ +0.05 %)