US tech stocks close lower in mixed session as investors weigh recession worries alongside potential for another Fed rate hike
Monday was the first full session for stock investors to react to Friday's March jobs report. The US economylast month, below the 239,000 median forecast and cooling from February's 326,000 reading. The unemployment rate fell to 3.5%, and the labor force participation rate rose.
"Visibility into the persistence of inflation, direction of interest rates, and pace of earnings growth should improve this week," Terry Sandven, chief equity strategist at US Bank Wealth Management, told Insider in emailed comments. Coming later this week will be the March consumer price index report and the first quarterly results from big banks after the collapses of Silicon Valley Bank and Signature Bank.
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