Stocks come off their worst week of the new year with investors wondering if the selloff is the start of something bigger, or just a pause.
The disappointing March employment report, released when the market was closed Friday, adds fuel to that debate, and could send stocks lower on Monday’s opening bell. But in a perverse twist of market logic, the number may be seen as a positive for stocks if investors believe it will result in a new round of Fed easing .
The economy added just 120,000 nonfarm payrolls in March, well below the 203,000 expected by economists. Bonds rallied, and yields moved lower. Stock index futures , open briefly Friday, fell sharply.
“Any kind of number like that will do it,” said Wells Capital investment strategist James Paulsen. “But we’ll see what investors do. I think there’s a lot of people that missed out and they don’t want to miss out further, and on any pullback they’ll be buying. Even with this one report, there’s a lot more good things going on in this recovery than they’re used to be.”Page 1 of 8 | Next Page