HomeStock market newsStock market news April 1, 2022

Stock market news April 1, 2022

Stock market today

How did the US stock market close today? All major US stock indexes closed higher. Small-cap stocks outperformed.

S&P 500: 4,545.86,+15.45(+0.34%)
Dow 30: 34,818.27,+139.92(+0.40%)
Nasdaq: 14,261.50,+40.98(+0.29%)
Russell 2000: 2,091.11,+20.98(+1.01%)

Stock market news today

“U.S. stocks closed higher Friday to cap a choppy first trading day of April as investors saw a closely-watched recession indicator in the bond market briefly flash red and mulled strong labor market data out of Washington that reaffirmed expectations for more hawkish monetary tightening plans by the Federal Reserve.

The S&P 500 rebounded into the close to rise 0.3%, and the Dow Jones Industrial Average jumped 150 points after both benchmarks struggled for direction during intraday trading. The Nasdaq Composite edged 0.3% higher, to mark a third week of gains for the tech-heavy index and the S&P 500. Friday’s moves come after Wall Street capped its worst quarter since the start of 2020.

A key part of the part of the U.S. Treasury yield curve briefly inverted Friday morning. The spread, or difference, between the 2-year and 10-year Treasury note yields narrowed and inflected for the third time this week. The phenomenon has a history of predicting a recession, with each of the last eight recessions dating back to 1969 preceded by a yield curve inversion. On Friday, the yield on the 10-year U.S. Treasury bond ended the day at 2.38%, 6 basis points below the 2-year U.S. Treasury yield of 2.44%.

Investors also digested the Labor Department’s monthly jobs report, the most up-to-date snapshot of the strength in hiring across the U.S. economy. Employers added 431,000 jobs in March, below Bloomberg consensus economist estimates of a 490,000 rise in non-farm payrolls. The latest figure reflected a slowdown from February’s 678,000 gain but still marked an increase well above pre-pandemic trends and underscored the likelihood Fed policymakers will raise interest rates more aggressively in coming months than initially expected.

Meanwhile, West Texas Intermediate (WTI) crude oil fell $14 to dip below $100 per barrel in its biggest weekly dollar loss since 2011. U.S.-allied countries in the International Energy Agency (IEA) on Friday agreed to their second coordinated deployment of oil stockpiles in a month to calm Russia-Ukraine war-roiled energy markets, one day after President Biden unveiled plans for the largest ever release from the U.S. Strategic Petroleum Reserve. The U.S. is expected to deploy 1 million barrels of oil a day from its emergency supply for the next six months starting.”

Stock market data: Yahoo Finance

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