Market Watch: Stock Drop on Eve of Jobs Report

On the eve before the latest jobs report comes out, markets finished down on the last day of March-the final day of the 1st quarter/2016. The month proved to be a good one for oil as the price of a barrel of crude soared 13% in March, closing today at $38.34/barrel.

See more from CNBC on today’s end of month-quarterly adjustments below.

Meantime there was breaking news today that federal regulators are going to begin a new round of investigations into the financial technology industry. The Treasury Department’s Office of the Comptroller of the Currency is now looking into new regulations for banks and financial technology companies, in light of how digital disruption is changing the financial services industry.

Thomas Curry, comptroller of the currency explained why in a statement:

“While banks continue to innovate, rapid and dramatic advances in financial technology are beginning to disrupt the way traditional banks do business. Banks and regulators must strike the right balance between risk and innovation.”

The Treasury Department’s Office of the Comptroller of the Currency will hear form the public until the end of May, at which time they’ll start working on a basic foundation for the regulations, which could effect companies from Wall Street to Silicon Valley.

Here are the final numbers from Thursday, 3/31/16 on Wall Street:

Dow Jones Industrial Average: 17,684.89  (-31.77/ -.18 %)

NASDAQ: 4,869.85  (+0.55/ +0.01 %)

S&P 500: 2,059.74 (-4.21/ -0.20 %)

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella
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Phil Cannella
Phil Cannella
Phil Cannella

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