Grim Jobs Outlook Scatters Stocks
Stocks closed mixed for Wednesday's session, the Dow was the only one to recover from early morning losses, marking an 80-point win. The grim mood on Wall Street came just after the ADP employment report said private payrolls rose by 145,000 in March, significantly lower than expectations.
A more realistic taste of the disappointing job market did little to defer oil from correcting -- the commodity shifting lower after its four day Organization of the Petroleum Exporting Countries & Allies (OPEC+) surge. Investors look ahead to tomorrow, which will be the last trading day of the week due to the Good Friday holiday.
GOLD, OIL SHIFT LOWER AFTER STRING OF WINS
Oil futures pulled back today, after securing four-straight days of wins. For the session, May-dated crude slipped 10 cents, or 0.1%, to close at $80.61 per barrel.
Gold settled lower despite its intraday surge to 13-month highs -- well above the $2,000 mark -- thanks to a weakening U.S. dollar. June-dated gold dropped $2.60 or 0.1%, to settle at $2,035.60.
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