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Jobs Data Is ‘Good News’ That Raises Fed Stakes: Investors React

  • Futures rise again, a day after the S&P 500 closed above 4,000
  • ‘Today’s jobs report delivered in a major way,’ Merlis says
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U.S. Labor Secretary Walsh on Jobs Report, Infrastructure Bill

Stronger-than-forecast March hiring pushed up U.S. stock futures on Friday and sowed optimism among investing professionals who said vaccines, easing lockdowns and ongoing government stimulus bode well for markets after the S&P 500 surged past 4,000. Several warned the pace of growth will eventually pressure the Federal Reserve, which has vowed years of near-zero rates.

“We were expecting a big number and today’s jobs report delivered in a major way,” said Eric Merlis, head of global markets trading at Citizens Bank. “It is the flip side of what we saw for March of last year and another clear sign that the U.S. economy is on a strong path to recovery.”