CNBC Daily Open: What rate hike?
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Stocks in the U.S. closed out a losing week after the Dow Jones Industrial Average suffered its worst session in over a year on Thursday. However, traders managed to brush off a sharp jump in yields on Friday after a stronger-than-expected jobs report. The S&P 500 gained 1.1% during the session, while the Dow climbed 307 points, or 0.8%. The tech-heavy Nasdaq Composite rose 1.24%. U.S. crude was up 4.5% for the week while gold added 4.2%. The big market move was in the bond markets where yields suddenly climbed after the closely watched nonfarm payrolls data for March. U.S. nonfarm payrolls numbers showed job creation in March easily topped market expectations, increasing by 303,000 for the month. The unemployment rate edged lower to 3.8%. A magnitude 4.8 earthquake shook the northeastern U.S. on Friday morning. Fund manager Barbara Doran revealed a selection of her favorite stocks and argued that investors are reluctant to embrace this current bull market. The Fed may move later than June and markets will remain on edge for a few months longer.

#StockMarket #BondMarket #NonfarmPayrolls #Earthquake #BarbaraDoran

https://www.cnbc.com/2024/04/08/cnbc-daily-open-what-rate-hike.html