The New York Stock Exchange was closed on Good Friday and opened heavily in the red on Easter Monday. But over the course of the day, things changed and the general sentiment among investors became more positive.
This is how the leading indicators ended:
- heavy industry Dow Jones It rose 0.3 percent.
- wide Standard & Poor’s 500 It ended up 0.1 percent.
- heavy technology Nasdaq It fell 0.1 percent.
The Vix, also known as the fear index, rose 4.5 percent to 19.22. When the epidemic entered 2020, the fear index was at 66. Since then it has been very volatile, but it has been hovering around the twenties.
We’re seeing what we think is the narrative among investors today: uncertainty around mixed economic data. It creates uncertainty regarding Fed policy and an even bigger moment of unease is the strong labor market numbers on Friday. The question is whether the Fed will raise interest rates again, Greg Pasuk of AXS Investments tells CNBC.
– I think investors are more worried about a possible recession in the US and the market is under pressure when the Fed decides.
“the most important month”
A new monthly labor market report released by the US Bureau of Labor Statistics on Friday showed that US non-farm payrolls increased by 236,000 jobs in March. Up front, the consensus was a growth of 239,000.
The number is often cited as the most important headline number of the month – and is now at its lowest level since December 2020.
“The report is immediately favorable, but not enough to change the Fed’s way of thinking,” says Yung-Yu Ma, investment analyst at BMO, according to CNBC.
There is still uncertainty about whether the Fed will raise interest rates by another 25 basis points at its next meeting. According to Ma, “The following inflation numbers are likely to be the deciding factor.”
Wednesday at 2:30 p.m US inflation numbers are coming.
The unemployment rate in March was also weaker than expected – at 3.5 percent – against expectations that it would remain stable at 3.6 percent.
Technology struggled
Major technology stocks struggled on Monday.
apple Google owner fell 1.8 percent the alphabet ended in turn. micron technology However, it rose by 8 percent after that Samsung They said they would cut production to support prices.
Falling for lower prices
Over the weekend, Tesla’s management visited China, where it agreed with the local authorities that the company should build a new factory in Shanghai. Thus, Elon Musk challenges the growing tensions between the United States and China.
It also became known on Friday that Tesla is once again adjusting prices for several of its car models. According to Bloomberg, the price cut comes after Tesla CEO Elon Musk promised to prioritize volume over margins on the company’s cars.
“The price is important. I think there are a lot of people who want to buy a Tesla, but they can’t afford it. So, these price changes will make a difference for the average buyer,” Musk said during the quarterly show in January.
TeslaThe stock fell as much as 4.6 percent at most, but closed down just 0.4 percent at the end.
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