On baseball’s opening day, the markets rallied after surpassing poor stock predictions. The markets did well even after most of the Wall Street believed that the stocks would fall after the rough jobs report on Friday.
After the opening, Dow fell by over 100 points, but then recovered and went up by about 180 points (280 points). It finished up with 118 points, while S&P 500 closed at 500 and NASDAQ closed high, too. For the win, it was the energy stocks that made it big with crude oil shooting up at six percent (even after Saudi Arabia reported it was charging a big higher as compared to other Asian nations). By far, crude is looking good and top performing on Monday in the S&P 500.
President William Dudley of the NY Federation gave his speech on Monday, telling investors to ease up and to shut off their fears about the pacing of increases in interest rates. On the bad economic side, the Labor Department announced that the economy of the US only made 126,000 jobs in the month of March, which was below targets—the worst for job increases since 2013 closed.
Well, let’s wait and see if energy stocks would keep winning in the stock market. Definitely, it is something everyone should be looking forward for.