Daily Market Update 3/4/16

Rates held steady Friday following the release of mixed employment data.  This morning, the Labor Department reported an increase of 242,000 jobs in February, well above the consensus forecast of 190,000.  Upward revisions to previous months added another 30,000.  Separately, the Unemployment Rate remained at 4.9%, as expected.  In spite of the healthy increase, Average Hourly Earnings declined by 0.1%, well below expectations for an increase of 0.2%.  The weak wage data offset the strong job gains, making the overall report roughly neutral.  Stocks were mixed.  No other key data will be released today.

Back to top