News
1 Apr 2022 • Daily News • Less than a min

Stocks Rise As Investors Monitor The New Quarter

Stocks soared early Friday as signs of imminent economic recession sent investors into a frenzy. Dow futures raked in 87 points, S&P 500 futures and Nasdaq 100 also significantly edged up. 

Investors were also watching out for the official jobs report for March that the Labor Department is releasing the same day. 

Thursday’s session, however, wrapped up the worst quarter since March 2020 for all three major averages. Though there was a two-week streak in the back half of the month, it was still overshadowed by skyrocketing interest rates and inflation. 

The 2-year and 10-year Treasury yields inverted for the first time since 2019 on Thursday might indicate that recession is on the horizon, but the stocks brushed it aside for now.

In response to a strong jobs report, the Fed may raise interest rates even higher in order to keep inflation under control. 

Meanwhile, energy prices slumped after the White House announced its largest-ever Strategic Petroleum Reserve release. 

Two other crucial indicators to keep an eye on include the ISM manufacturing index and the construction spending report, both of which will be released at 10 a.m. ET on Friday.

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