The stock market is set for a key test as Dow Jones futures edged higher overnight, signaling a potential shift in the market. The upcoming March jobs report is expected to reveal a rise in nonfarm payrolls, but concerns about inflation persist as oil prices hit their highest levels since late October. With the market rallying at the start of the day before reversing lower in the afternoon due to Mideast tensions, investors are looking at key indicators to determine market direction.
On a positive note, Google parent Alphabet is reportedly considering a bid for marketing software company HubSpot, pushing HubSpot stock to breakout of a base. However, Salesforce.com reversed lower on the news. Tesla stock rebounded slightly after a rough week, while Nvidia and Advanced Micro Devices faced mixed performances. The market remains volatile with mixed signals from leading stocks, leaving investors uncertain about the market’s direction in the coming days.
Looking ahead, the Labor Department will release the March jobs report on Friday, which is expected to have a significant impact on Dow Jones futures and Treasury yields. As the market remains on edge with concerns about inflation and economic indicators, investors are advised to stay cautious and keep a close watch on key stocks and sectors for potential opportunities and risks. The market’s reaction to the upcoming jobs report could provide clarity on the current market environment and guide investors on their next moves.
