The S&P 500 index rose slightly on Friday (1st), the first session of the second quarter, after a monthly jobs report indicated a strong US labor market, which is likely to keep the US central bank in its trajectory towards a more aggressive monetary policy stance against inflation.
US employers created 431,000 jobs in March, down from an estimate of 490,000 but still showing strong job gains. The unemployment rate fell to 3.6%, a new two-year low, while the average hourly wage rose 5.6% on an annual basis.
The document fueled expectations that the Federal Reserve is likely to become more aggressive in raising interest rates as it seeks to contain inflation as it unwinds its flexible monetary policy.
“If other data between now and the next Fed meeting remains as favorable, the Fed will likely feel comfortable moving up 50 basis points and announcing an aggressive reduction in its balance sheet,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. in Menomonee Falls, Wisconsin.
The S&P 500 index closed up 0.34% at 4,545.86 points. The Dow Jones rose 0.40% to 34,818.27 points. The Nasdaq Composite technology index rose 0.29% to 14,261.50 points.
The real estate, utilities and basic consumer goods sectors were the indices with the best daily performance, each with a rise of more than 1%.
For the week, the Dow Jones Industrial Average is down 0.10%, the S&P 500 is up 0.10% and the Nasdaq is up 0.70%.
Source: CNN Brasil
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