FUTURES TANK ON MARCH JOBS DISASTER: Here's What You Need To Know

RELATED QUOTES

SymbolPriceChange
DIA164.65+0.01
SPY187.71+0.260
QQQ87.56+0.80

One thing happened today.

First the scoreboard:

Dow Futures: 12,847, -131 pts
S&P 500 Futures: 1,374, -15 pts
NASDAQ 100 Futures: 2,723, -30 pts

And now the top stories:

  • Jobs week in America ended on a low note.  According to the Bureau of Labor Statistics, U.S. companies added just 120k non-farm payrolls in March.  Economists were looking for 205k.  The number was also lower than Business Insider's expectation for 193k. The private payrolls component was the major miss, coming in at just 121k versus expectations for 215k.  The retail sector got crushed, losing 34k jobs.
  • The unemployment rate, however, declined to 8.2 percent from a previous reading of 8.3 percent.  The main cause of this was the shrinking labor participation rate, which is likely to be the talking point for pundits over the next few days. NOMURA: The 8 Ugly Numbers From Today's Jobs Report >
  • U.S. stock markets were closed, but futures contracts on the major indices traded in the electronic markets.  Futures on the Dow and S&P 500 were up 21 points and 2 points just before the release of the jobs report.  But they instantly tanked once the numbers were released.  Dow futures were down 97 points and S&P futures were down 10 points minutes later.  They continued to all during the electronic trading session.  GOLDMAN SACHS: The 20 Worst Stocks In The World >
  • So, is more quantitative easing from the Federal Reserve back on the table? It appears currency traders think so.  The dollar dove on the jobs report.  And the prospect of a new program aimed at lowering interest rates sent Treasuries higher and yields lower.
  • Don't Miss: FROM PARTICLES TO BULLION: The Complete Story Of How Gold Is Mined And Refined >


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