Delayed Reaction: Three Days After Blowout Jobs Report, Stocks Enjoy Tailwind

SectorFinancial Markets

Three days later, that blowout jobs report apparently hasn't lost its new car smell. That's how the market's acting early Monday after most of us were denied a chance to trade on the actual day of the March jobs report with markets closed Friday for the holiday. It was the first time in about a decade that a jobs report coincided with a market closure, so there's a little sense of delayed reaction, so to speak. Stock index futures rose Sunday night and into Monday, heading toward new all-time highs.

This follows a rally in European stocks, but many Asian markets didn't trade overnight due to holidays there. Major indices were all up roughly the same amount heading into the open, so it doesn't look like any one sector is getting favored. That said, Tesla TSLA (TSLA) got a nice burst in overnight trading, up more than 7% after the electric car company's Q1 deliveries exceeded analysts' expectations. Cruise more...