US markets fall a day after new records

U.S. stock futures traded lower ahead of Tuesday’s Wall Street session, even as the U.S. government reported that employers started a wave of hiring in March, adding 916,000 jobs, the largest since August.

Ticker	Safety	Last	Change	Change %
I: DJI	DOW JONES AVERAGE	33527.19	+373.98	+ 1.13%
SP500	S&P 500	4077.91	+58.04	+ 1.44%
I: COMP	n / a	n / a	n / a	n / a

On Wall Street, the S&P 500 rose 1.4% to 4,077.91, another record. The Dow Jones Industrial Average rose 379 points, or 1.2%, to 33,527.19 and the Nasdaq was 1.6% higher, at 13,705.59.

Traders had a delayed reaction to the encouraging job report, which was released on Friday, when stock trading closed. Investors were further encouraged by a report on Monday showing that the services sector recorded record growth in March, as orders, contracts and prices increased.

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Both employment and the service industry have lagged behind in other areas of the economy throughout the recovery. Analysts said they both need to show signs of growth if the recovery is to continue on the right track. In the United States, the strong launch of vaccines is making an eventual return to normal for many people to appear clearer and closer.

“The jobs report highlighted the recovery in the job market,” said Quincy Krosby, chief market strategist at Prudential Financial. “The only thing that can prevent this recovery, this recovery, is that COVID-19 will launch another wave.”

The gains were broad on Monday, with almost all sectors growing. Companies that are expected to benefit from a broader reopening of the economy and economic growth have also done well. Norwegian Cruise Line made a 7.2% jump to the biggest gain on the S&P 500, while seeking permission to restart cruises outside US ports in July, with a vaccination requirement for passengers and crew members. The rival Carnival rose 4.8% and Royal Caribbean gained 3.5%.

Technology stocks also boosted earnings. Apple rose 2.1% and Microsoft 2.5%. Tesla surprised investors with a report that vehicle deliveries doubled during the first quarter. Its shares rose 5.1%.

Meanwhile, Asian stocks were mixed on Tuesday after Wall Street rose on Monday, which reflected some optimism about the recovery of the pandemic economy.

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Japan’s Nikkei 225 benchmark lost initial gains and fell 1.3% to end at 29,696.63. Australia’s S & P / ASX 200 rose 0.8% to 6,885.90. South Korea’s Kospi rose 0.2% to 3,126.72. Shanghai Composite advanced less than 0.1% to 3,486.22. Hong Kong negotiations were closed for Easter.

Yoshimasa Maruyama, chief market economist at SMBC Nikko, noted that a gradual recovery in the Japanese economy was reflected in the Bank of Japan’s recent tankan survey released last week. He said that a recovery was marked in the electronics sector because of the consumption of electronic products by families, as the pandemic has reduced people’s spending on services.

Household spending data released on Tuesday showed a 6.6% decline in February, with restaurants, clothing, transportation and entertainment dropping dramatically.

Deep concerns remain about the pandemic, with medical experts warning Japan to prepare for a “fourth wave” of COVID-19-related infections and deaths, as the country has lagged behind the rest of the world in testing and vaccinations.

Similar outbreaks have occurred in other countries, including India and Thailand.

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In the energy trade, the US reference oil added 80 cents to $ 59.45 a barrel in e-commerce on the New York Mercantile Exchange. He withdrew from $ 2.80 to $ 58.65 a barrel on Monday. Brent crude, the international standard, rose 77 cents to $ 62.92 a barrel.

In currency trading, the US dollar rose from 110.19 yen to 110.26 Japanese yen. The euro cost $ 1.1811, down from $ 1.1813.