The US stocks rallied high on Monday, surpassing the lower-than-expected jobs report that the Federal Reserve would postpone its planned increase of interest rates in almost a decade. Volumes were low and trading was volatile because the European markets were non-operational during the Easter holiday. The major indexes started lower before rising up to one percent, while the US dollar index changed between a rise of 0.7 percent and a drop of 0.2 percent. And because dollar exchange rates strengthened in the afternoon, equities of the Wall Street came off their increases.
Only 126,000 jobs were created last Month, this is the figure released by the Labor Department, data lower than economic expectations and also the fewest added in almost one year. In addition to this data, the Institute for Supply Management highlighted that the growth pace in the US services also fell to a three-month low in the same month, another weakness in the jobs market. Analysts pointed out that this momentum loss in the US growth and revealed that the Fed might push back its first rate increase until later this year. This was furthered by William Dudley, president of the New York federation.
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