©Reuters.
By Liz Moyer
Investing.com – US stocks were mixed after payrolls data showed signs of a slowing economy.
As of 9:56 ET (13:56 GMT), the was up 114 points, or 0.3%, while the was down 0.1% and the was down 0.6%.
Weaker-than-expected private wages numbers in March fueled concerns that Federal Reserve interest over the past year could plunge the economy into recession.
‘s report said payrolls rose by 145,000 versus expectations of a 200,000 job gain. In addition, there are weaker than expected numbers for February and weaker .
The worse than expected numbers reflect market expectations for further Fed action. Futures traders have changed their minds and are now mainly betting on the Fed suspending rate hikes at its May meeting. About 60% hold this view, while 40% expect the Fed to hike rates by a quarter of a percentage point.
The ADP report is just the preview of the government-watched one due out on Friday. This broader report could give the Fed more reasons to pause or hike rates in May.
Final data for the last month is also expected today.
Johnson & Johnson (NYSE:) shares rose 2.9% after the drugmaker offered a $8.9 billion settlement for talc-related lawsuits, versus its originally proposed $2 billion bid -Dollar.
FedEx Corporation (NYSE:) shares rose 3.7% after the logistics company said it would consolidate operational divisions to cut costs and increase efficiencies.
oil weakened. was down 0.1% to $80.64 a barrel while falling 0.1% to $84.88. rose 0.1% to $2,039.
Comments are closed.