The S&P 500 was flat Tuesday as investors tried to shake off recession concerns ahead of the release of key inflation data later this week. The Dow rose 0.29%. The S&P 500 closed flat. The Nasdaq dipped 0.43%.
Despite signs of softening, the labor market is "still too tight," strategists at BCA Research said.
"Despite the slowdown in the pace of nonfarm payroll employment, the March figure remains more than double the 100 thousand jobs per month that Fed Chair [Jerome] Powell cited in a November speech as the pace needed to accommodate population growth over time," they added.Chicago Fed President Austan Goolsbee said Tuesday he's keeping an eye on credit conditions ahead of the central bank's May meeting.
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