Stocks nudged higher on Friday, providing a much-needed reprieve for jittery investors who were digesting the crucial monthly jobs report and keeping a close eye on surging oil prices. The Dow Jones Industrial Average (^DJI) gained roughly 0.1%, or 20 points, while the S&P 500 (^GSPC) added 0.3% following its worst single-day fall since February. The tech-heavy Nasdaq Composite (^IXIC) also saw a 0.4% increase.
According to Yahoo Finance’s Josh Schafer, the US labor market continued to impress in March, with employers adding 303,000 jobs, surpassing economists’ expectations. The unemployment rate also decreased to 3.8%, and wage growth met expectations.
Thursday saw a slump in the major gauges as oil prices reached their highest levels in six months, sparking concerns about inflation. Additionally, a series of Federal Reserve speakers cast doubt on the possibility of an interest-rate cut in the near future.
Market nerves have been running high this week, with investors navigating economic releases, corporate news, and escalating tensions in the Middle East. Oil prices remained near multimonth highs on Friday, with Brent crude futures hovering just below $91 a barrel and West Texas Intermediate futures trading at $86.60.
In other news, a 4.7-magnitude earthquake struck the East Coast of the United States on Friday morning, causing shakes felt across several states. Meanwhile, stocks like Johnson & Johnson, Krispy Kreme, Solana, and HubSpot were trending in morning trading, with various developments impacting their performance.
Overall, the market landscape remains dynamic and volatile, with investors closely monitoring a range of factors that could influence stock movements in the coming days.
