Poor jobs data likely to hit stocks

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.

If jobs growth had slowed slightly, investors would likely have slavered like Goldilocks before a bowl of just-right porridge. After all, much of the weakness in stocks - particularly dollar-sensitive energy and commodity stocks - in recent weeks was a fu…