Jobs Data

• Wall Street heads into a data-heavy week with the May nonfarm payrolls report due June 5 and Broadcom’s quarterly earnings later in the week, according to Reuters coverage republished by the Economic Times. • The S&P 500 has risen for nine straight weeks, is up more than 10% this year, and the Nasdaq Composite has gained about 16% as AI-linked technology shares keep driving the rebound. • Economists in a Reuters poll expect U.S. unemployment to stay at 4.3% and payroll growth to slow to about 85,000 jobs, a reading that could reshape expectations for Federal Reserve policy.

• U.S. stocks surged last week with the S&P 500 and NASDAQ reaching new record highs, supported by stronger-than-expected April jobs data and solid tech earnings. • The S&P 500 climbed 10.42% in April to close at a record 7,209.01, while the Nasdaq 100 rallied 15.64% and Dow gained 7.14%, led by mega-cap tech and AI enthusiasm. • Employment growth exceeded forecasts in April with unemployment steady at 4.3%, while Q1 earnings for the Magnificent Seven are projected to grow 45.7% year-over-year.

• The US economy showed strength with private sector payrolls rising 123,000 in the latest month after 190,000 previously, beating expectations by double, while unemployment holds at 4.3% near full employment. • Atlanta Fed GDPNow forecasts 3.7% annual growth for Q2, with weekly unemployment claims at rock bottom and no recession in sight despite left-wing critiques. • Blue-collar nonsupervisory workers saw 3.7% hourly earnings growth and 1% hours increase, yielding 4.7% wage-income proxy rise outperforming white-collar gains.

• U.S. equity markets closed for Good Friday, but S&P 500 futures fell 0.3%, Dow futures dropped 0.2%, and Nasdaq futures declined 0.4% early Friday after a robust March jobs report showing 178,000 additions and unemployment at 4.3%. • WTI crude surged 11.4% to $111.54 per barrel on Thursday amid fears of prolonged Iran conflict, while Brent crude jumped 7.8% to $109.03, with President Trump vowing continued U.S. attacks without an end timetable. • A BMI report warns extended Middle East conflict threatens infrastructure, disrupts Strait of Hormuz oil flows, and delays postwar recovery, spilling price impacts into later 2026.

• U.S. nonfarm payrolls for March will be released Friday amid sharp energy price increases due to Middle East conflict, providing critical snapshot of labor market health as investors reassess economic outlook. • HSBC economists expect "modest but positive growth" in employment, though markets have slashed expectations for Federal Reserve rate cuts, with money markets pricing only 42% probability of a rate increase in 2026. • This week's data releases—including ADP private payrolls (Wednesday), JOLTS job openings (Tuesday), jobless claims (Thursday), and consumer confidence surveys—will reveal war impact on business and consumer sentiment.