U.S. stock markets are lower in early trading, with investors getting their first chance to react to Friday's weaker-than-expected March jobs reports. The stock market is set to resume normal hours this morning after the long holiday weekend. (CNBC)
The economy added 126,000 jobs in March. The unemployment rate stays at 5.5%, but average hourly earnings accelerated to a 2.1% growth rate. About 182,000 people were unable to work due to bad weather during the month. March follows 14 months of 200,000 per month in job gains. This report is just a blip in strong job growth and should not cause much long-term concern. One month does not make a trend. (LPL Research)
The dollar is under some pressure today, after the weak jobs data persuaded many market watchers that the Fed may wait until the second half of 2015 before raising interest rates. (Reuters)
In the online gaming sector Walt Disney is investing $250 million in DraftKings, putting the value of the online fantasy sports business at roughly $900 million. (WSJ)
Toy maker Mattel Inc. has laid off 107 employees at its headquarters, a few months after its chief executive abruptly resigned following a disappointing holiday season. (LA Times)
The S&P 500 is down 14 and the NASDAQ is down 30. The MSCI international index is up 0.87%.
Oil is up $1.01 at $50.14 a barrel. Oil is higher, after Saudi Arabia raised prices for crude sales to Asia for a second month, signaling stronger demand in the region. (Reuters)
