Job growth slows in March amid weather related weakness
Fed New York President William Dudley said March jobs rose 126000 as weather reduced hiring and warned of downside risks through spring. He projected a 1 percent GDP pace in Q1 and a gradual rate rise toward 3.5 percent depending on inflation and labor market strength.
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Stocks rise on weak jobs report and Fed outlook
Markets gained as a weak March payroll report kept Fed rate hikes cautious and oil prices lifted energy stocks. The Dow rose about 118 points, the S&P 500 gained 13.66, and the Nasdaq added 30.38 as investors priced in shallow tightening and a slower growth path. ISM services data showed expansion, though at a slower pace.
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