Stocks declined Monday as investors returned from a holiday break to react to the US jobs report for March and how that plays into the Federal Reserve's thinking about interest rates.
Key stock indexes were lower after last week's losses. The S&P 500 slipped 0.1% last week, marking the first loss in four weeks, and the Nasdaq Composite fell by 1.1%. Monday was the first full session for stock investors to react to the March jobs report released during the Good Friday holiday. The US economylast month, falling short of the 239,000 median forecast and cooling from February's 326,000 reading. The unemployment rate fell to 3.5%, and the labor force participation rate rose.
"If last week's jobs data represents any indication, we could be in for a material recessionary environment, as high jobless claims, vastly fewer available positions, and a slew of corporate job cuts are set to weigh heavily on the US economy," Greg Bassuk, CEO of AXS Investments, told Insider in emailed comments.
stocks didn't 'fall', they were UP!
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