Following the coinciding of Good Friday and “jobs day,” which necessitated a shorter trading session for stock-index futures and Treasurys, American investors are expected to resume work promptly on Easter Monday.
Good Friday Impact and March Jobs Report Analysis
As Good Friday is not recognized as a federal holiday, the U.S. Labor Department disclosed the March jobs report at its customary 8:30 a.m. Eastern time slot. Although the majority of markets and U.S. stock exchanges were shut on Friday, U.S. stock-index futures on the CME were operational until 9:15 a.m., allowing investors a 45-minute span to engage in trade with the employment data.
Additionally, Sifma proposed a midday conclusion for U.S. bond trading, whereas interest-rate futures markets also experienced a curtailed session.
Although a majority of Europe will take off both Good Friday and Easter Monday, resulting in a four-day holiday, U.S. markets will operate at regular trading hours. This implies that U.S. stock-index futures will recommence trading on Sunday evening at their customary time of 6 p.m.
Friday’s trading session for stock index futures was relatively uneventful. Following the release of data indicating that the U.S. added 236,000 new jobs in March, mainly in accordance with The Wall Street Journal’s survey of economists’ consensus forecast of 238,000, futures for the Dow Jones Industrial Average YM00, +0.19%, S&P 500 ES00, +0.24%, and Nasdaq-100 NQM23, +0.10% transitioned from minor losses to minor gains.
Surprisingly, the unemployment rate decreased unexpectedly from 3.6% to 3.5%.
Apart from the Dow industrials, U.S. equities concluded the shortened week on Thursday with a decrease, following three continuous weeks of growth for the S&P 500 and the technology-focused Nasdaq.
The Dow DJIA, +0.01% climbed by 0.6% for the week, whereas the S&P 500 SPX, +0.36% reduced by 0.1%, and the Nasdaq COMP, +0.76% plummeted by 1.1% despite achieving its most significant quarterly gain since 2020.
After Good Friday coincided with “jobs day,” American investors will return to normal trading on Easter Monday. Despite shorter sessions, Friday’s trading remained quiet. The week ended with mixed results for U.S. stocks despite positive job numbers.