With the employment report coming out on Friday, the end of the quarter gave pause to investors who were awaiting the reports to make decisions. With news coming on Friday morning, investors waited to see whether or not there had been improvement in the labor market. This period caused a slow in the market and little movement of stocks. The biggest hold off was showed in the dollar, with a decline of more than 0.4 percent, the lowest it has been since October. Since that month, the euro also traded at its highest against the dollar and the yen was nearly 112.51 against the dollar. March brought reports of new data being released Friday morning.
Jobless claims also showed initially at 276,000 and treasury yields traded at a low, with a 10-year yield lower that 1.80 percent. If the Fed were to hold back on interest rate hikes, the stock market would see the results and would possibly cause yields to rise. It would be tough for yields to get much lower, but you would have to have a shock in order to do so. Crude oil in the U.S. also ended with gains, up $0.02 a barrel at $38.34.
Additional reports from the U.S. Federal Reserve supported the coming rate hikes this year, with the first possibly as soon as June. Two others are also possibly in the works before the end of the year. Fed President in Chicago, Charles Evans, did report that the hikes could be moved to earlier or later in the year, depending on the economic condition. The current expectation is for one in the middle of the year and one toward the end. Fed Evans concluded with comments on job growth, stating that U.S. job growth of around 200,000 would be a very good thing.