- Dow Jones Industrial Average YM00 futures were down 0.18% at 37 cents, or 0.1%, at 33,621.
- S&P 500 ES00 futures, at 0.18%, were up 2.26 points, or 0.1%, at 4,129.75.
- Nasdaq-100 NQ00 futures, -0.04%, fell 1.26 points, or less than 0.1%, to 13,169.51.
Aside from the Dow Industrial, US stocks ended a short-term holiday week after several weekly gains for the S&P 500 and the tech-heavy Nasdaq. The Dow Jones, 0.01%, is up 0.5% on the week, while the S&P 500 SPX, 0.36%, is down 0.1%, and the Nasdaq COMP, 0.76%, is down a 1.12% after registering its best quarterly result since 2020.
A Wall Street Journal survey estimated on average that statistics show the US economy added another 238,000 jobs in March, up from 311,000. The unemployment number is expected to hold at 3.62%, while average hourly earnings are expected to rise 0.32% after a 0.23% rise in February.
Jobless claims fell below a 20-month low
Investors saw a flurry of employment-related statistics in the days of the past week. A report on Tuesday showed US jobless claims fell below 10 million to a 20-month low, suggesting the job market may be running out of steam.
This week, ADP said the private sector added 145,000 jobs, below the 210,000 expected by experts. Data from Thursday’s weekly jobless report showed that initial claims for benefits last week came in at a higher-than-expected level.
It will be interesting to see what the weak report does with forecasts for future rate hikes, which bond markets already believe may be close to the bottom line.
Pinterest Inc (NYSE: PINS) has already gained about 25% this year, but a Raymond James analyst believes it has yet to benefit its shareholders.
Pinterest’s stock could also benefit from the company’s plans to become more efficient and cut costs. To that end, he announced plans to cut 150 jobs in February.
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