Stock Index Futures Have Mixed Reaction To Disappointing Jobs Report; 10-Year Yield Slides

Stock Index Futures Have Mixed Reaction To Disappointing Jobs Report; 10-Year Yield Slides

This week's big jobs report is now in the rearview mirror, and Wall Street may be eager to move on from it. The nonfarm payrolls report this morning showed the economy added just 266, 000 jobs, far less than expected. And the unemployment rate rose to 6. 1% from 6% last time around. A Briefing. com consensus had expected 1 million jobs to be added and an unemployment rate of 5. 8%. Meanwhile, the prior report's estimate that 916, 000 jobs were added in March was revised down to 770, 000. Most of the gains came from leisure and hospitality, which are basically old jobs coming back. But manufacturing jobs edged lower, and construction employment was flat—not particularly good signs for the economy. One thing to keep in mind though is that states are reopening at different rates, and it may take some time for those new jobs to hit the books, meaning that it may not be until next month's jobs report that we see some more of the added jobs we were expecting this time around. As you take today to digest the data, it might be helpful to remember some of what's been leading up to the