Stocks climb after sizzling US jobs report
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The US labor market continues to perform well, with nonfarm payrolls rising by 303k in March, surpassing forecasts. The unemployment rate fell even as labor force participation rose, suggesting that new workers entering the labor market were easily absorbed. The increase in labor supply diminishes the risk of wage-fueled inflation and could help shield economic growth. Investors scaled back their bets on the timing and depth of Fed rate cuts following the employment report. The dollar initially jumped but erased gains as stock markets soared, driven by optimism that a booming labor market could lead to stronger corporate earnings. Oil prices retreated while gold reached a new record high. Looking ahead, a crucial US inflation report and three central bank meetings are expected to fuel volatility in most assets.

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https://www.investing.com/analysis/stocks-climb-after-sizzling-us-jobs-report-200647450