Dow Futures Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed down -1.51%, the Dow Jones Industrials Index ($DOWI) closed down -1.69%, and the Nasdaq 100 Index ($IUXX) closed down -1.41%.
U.S. stock indexes on Friday moved lower on global economic concerns due to an abysmal U.S. payrolls report and weak economic data for the Eurozone. Strength in energy stocks limited the decline in the overall market after crude oil prices rallied more than 11% to a 2-1/2 week high.
Friday's U.S. Mar payroll report weighed on equities after Mar non-farm payrolls fell -701,000, showing a weaker labor market than expectations of -100,000 and the biggest decline in 11 years. Also, the Mar unemployment rate rose +0.9 points to a 3-year high of 4.4%, showing a weaker labor market than expectations of +0.3 to 3.8%. A slight positive was stronger-than-expected earnings after Mar avg hourly earnings rose +0.4% m/m and +3.1% y/y, slightly stronger than expectations of +0.2% m/m and +3.0% y/y.
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