Poor jobs data likely to hit stocks
But strong outlook reports from Alcoa and other companies reporting earnings this week can prevent a slide
TIMBER!
Stock futures pointed to a rout in US stocks this week after a shocker of a March jobs report. The only thing that could arrest the slide would be ebullient outlooks from Alcoa and other major companies as the earnings season gets underway later this week.
The US added a measly 126,000 jobs in March, the lowest monthly tally in more than a year. Economists say jobs growth of more than 200,000 a month is necessary to absorb new jobseekers such as immigrants and young people coming of age. The subpar figure broke a long streak of gains in excess of that benchmark.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Asia: Stocks rise as Federal Reserve tamps down hike fears; yen leaps
Japanese companies struggle with yen’s continued weakness
Singapore stocks open stronger on Thursday; STI up 0.5%
Stocks to watch: DBS, Olam, Parkway Life Reit, Japfa, CSE Global
Europe: UK’s FTSE 100 slips ahead of Fed outcome, energy stocks weigh
US: Stocks end mostly lower in volatile reaction to Federal Reserve