Markets See Sharp Weekly Losses Despite Friday Rally; Jobs Report Signals Economic Strength But May Delay Fed Rate Cuts
• Markets rallied on Friday but still saw sharp weekly declines; Dow fell 2.3% for its worst week in a year, S&P 500 had largest weekly drop since January.
• Strong March jobs report signals economic strength but likely delays Fed rate cuts; payrolls topped estimates and unemployment edged lower.
• Q1 earnings season kicks off Friday with bank reports; guidance will draw attention given lofty valuations.
• Fed closely eyeing incoming inflation data after hawkish comments from officials last week.
• Notable stock movers Meta +8% on analyst upgrades; Intel worst performer after increasing operating loss forecast.