Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average ended in positive territory Friday after the U.S. added 196,000 jobs in March, a rebound from the prior month's poor showing.
- Boeing (BA - Get Report) acknowledged for the first time that its software played a role in two recent deadly 737 MAX 8 accidents.
- Intel (INTC - Get Report) fell after Wells Fargo downgraded shares of the chipmaker to market perform from outperform.
Wall Street Overview
"This was sort of a high-profile month, given how large a miss last month was," he said. "Last month could've been the start of a trend, but this sort of middle-of-the-road, average number showed that was a blip and likely due to weather and other factors," Kennedy said. "This is an important factor as it has the ability to impact Fed decision making. This average number here is kind of perfect. It gives (the Fed) a lot of flexibility and gives them the ability to essentially wait for further data and likely doesn't force their hand one way or another."
President Donald Trump continued his criticism of the Federal Reserve, insisting along with his top economic adviser that the central bank cut interest rates.
Trump said Friday the Fed should lower interest rates from its current range of 2.25% to 2.50%. White House Economic Adviser Larry Kudlow told Fox News that Trump thinks the Fed went "too far" in its past hiking cycle, which saw benchmark rates lifted on eight separate occasions. Kudlow said the central bank could use "new thinking" on how supply-side dynamics influences the broader economy.
Trump said Thursday he believes there is a "very good chance" of reaching a trade deal with China. Trump also said he would participate in a summit with Chinese President Xi Jinping to finalize the details of an agreement in about four weeks, but only if the framework of a deal is in place. White House economic adviser Larry Kudlow would not give a timetable for the on-going talks.
"It's not so much about timing, it's about getting a good deal," Kudlow said on Bloomberg TV on Friday. Kudlow also said Chinese Vice Premier Liu He was due back in Beijing after Friday's talks but the two sides will continue talks through teleconference next week.
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