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Apr 08 | Daily Finance News

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0408 stock market morning

U.S. STOCK PICKS

  • Stocks were flat Monday morning. The Dow fell 2.3% last week, posting its worst weekly performance March 2023. The S&P 500 declined nearly 1% during the period, its biggest weekly loss since early January.
  • The market did end last week on a positive note, however, after a stronger-than-expected jobs report Friday. The surprising gain in payrolls gave investors hope that a strong economy could continue to support corporate earnings growth, even if it means higher interest rates for longer.
  • Economists polled by Dow Jones expect the CPI number, scheduled for released Wednesday morning, to increase 0.3% last month and 3.5% year over year.
  • ‘They can’t get it wrong again’: Economists are increasingly uncertain about Fed rate cuts this year.
  • Tesla shares were up more than 4% after CEO Elon Musk said the company’s robotaxi will be unveiled in early August.
  • Brazil Supreme Court justice opens inquiry into Elon Musk, escalating dispute over misinformation.
  • This week will bring the start of the latest earnings reporting season. Delta Air Lines, JPMorgan Chase and other banks will headline the earliest days of the reporting period, and analysts are expecting companies across the S&P 500 to deliver a third straight quarter of growth from the prior year.

CANADA MARKET

  • RRSP contributions resume decline after pandemic upends savings trends.
  • Spring housing market surge unlikely as affordability, cost of living weigh on buyers.

Apr 08 | Daily Finance News

U.S. STOCK PICKS

Closing: 4:00 PM EST

*All information sourced from news portals such as CNBC, Yahoo Finance, Reuters, etc.

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