*TECH SHARES WEIGH ON WALL ST AS JOBS REPORT FUELS RATE-HIKE WORRIES $DIA $SPY $QQQ 🇺🇸🇺🇸
and the Nasdaq moved lower on Monday as investors digested Friday's employment report and prepared for an eventful week of inflation data and bank earnings.
"Investors are a little nervous," said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York."There’s the perpetual question of whether the consumer is going to come through, and if earnings going to be robust enough to carry stocks higher or whether we going to head into a recession."
While the report signaled the Fed's restrictive policy is beginning to have its intended economic dampening effect, it raised the odds that the central bank will move forward with another 25 basis point increase to the Fed funds target rate at the conclusion of its May policy meeting. Recent indicators suggest a softening but sturdy economy, one that can withstand hawkish Fed policy as the central bank works to bring inflation closer to its 2% annual target.
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