Afternoon Note
Lots of volatility on the tape ahead of the three-day weekend and tomorrow’s Jobs report. Economists expect an increase of 240,000 jobs, below the 311,000 reported in February.
In addition, the Street continues to be concerned that the Fed’s rate-hike campaign could lead to a rapid cooling in the economy. Fed Bullard gave a speech today, although he did not say anything he hasn’t said before.
Only two sectors are trading in the red, Energy and Materials. The flight to safety and opportunity continues with Utilities and Health Care among the gainers.
Advancers are outpacing decliners, although there are more new lows in the NYSE and Nasdaq.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1697 |
2541 |
Decliners |
1223 |
1675 |
New Highs |
31 |
46 |
New Lows |
33 |
145 |
Up Volume |
1.24 billion |
1.36 billion |
Down Volume |
761.3 million |
1.11 billion |
The market is closed tomorrow for Good Friday, though the bond market will remain open for a short session.
Happy Passover and Happy Easter.
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