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The S&P 500 and Nasdaq saw gains after reports indicated a slowdown in the US services industry growth for March. The rise in stock indices was tempered following comments from Fed Chair Jerome Powell, who suggested that interest rate cuts are not imminent. This market movement comes amid a broader context of economic data and forecasts, including expectations for the March US Nonfarm Payrolls to increase by 213,000, with the unemployment rate holding steady at 3.8% and 3.9% according to different forecasts. Economists are closely watching these figures, as well as a potential moderation in job growth and elevated wage gains, to gauge the Federal Reserve's next moves regarding interest rates.
A monthly report on US employment is set to reveal a downshift in hiring in March amid muted wage growth, according to Bloomberg Economics https://t.co/L83HwmI5wS
US job growth likely slowed moderately in March, while wage gains remained elevated, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated interest rate cuts from the Federal Reserve this year. More here: https://t.co/hzyzQw4Cf8
March Jobs Report Preview: Could Friday's Data Steer The Fed Toward Rate Cuts? Economists foresee March's non-farm payrolls slowing to 200,000, with unemployment rate holding at 3.9%. ADP's March report hints at exceeded job growth forecasts, led by construction, finance, and… https://t.co/OLE2fahmvp
