Today's Market News: April 05

The U.S. Bureau of Labor Statistics (BLS) released data on Friday showed that the U.S. economy added 303,000 jobs in March.

The unemployment rate fell to 3.8% from 3.9% in the previous month, signaling the continued strength of the U.S. economy. The jobs report was hotter than expected at 200,000, while the unemployment rate remained in line with the expectations of economists polled by Dow Jones and The Wall Street Journal.

The jobs report pushed the market higher Friday morning, after stocks dipped this week on interest rate worries.

Daban ETF SPY (SPDR S&P 500 Index ETF Trust) rose as investors cheered labor reports, while bond ETF TLT (iShares 20+ Year TreasuriesETFs, meanwhile, dipped at the opening bell.

etf.com data shows that the most active ETF on Friday was SQQQ, theProShares UltraPro Short QQQThe fund was betting on a decline in tech stock prices. The fund, which is betting on lower tech prices, started the trading day down more than 2% as tech stocks rebounded despite a prolonged interest rate environment. The fund started Friday with more than 63 million in trading volume.

While Koon's strong employment reports indicate the health of the U.S. economy, they may also signal that the economy is resilient enough to withstand the impact of higher interest rates. In other words, investors will have to wait longer for rate cuts, which could boost the interest-sensitive fixed-income sector.

Currently, according to the CME FedWatch tool, the market forecasts the probability of a Fed rate cut at the June policy meeting to be 56%, lower than yesterday's more optimistic 61%.

Investors are watching the jobs report closely, trying to find clues to the Fed's future rate cuts. For ETF investors, the jobs report affects the market's view of economic growth and interest rates, and it also reveals sector-specific gains and losses.

Growing tensions between Israel and Iran continue to drive up oil prices, sending oil ETFs soaring. With Brent crude futures jumping above $90 a barrel, some of the largest oil ETFs: USO (American Petroleum Fund LP), UCO (ProShares Ultra Bloomberg Crude Oil Fund) and DBO (Invesco DB Oil(Fund) rose.

XLE Annual Price

Source: etf.com

etf.com data shows that the $39 billion market capitalization-weighted index tracking energy companiesEnergy Selection SPDR (XLE)It climbed 91 TP3T last month and is up 141 TP3T year-to-date.

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