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The narrative about the state of the labor market — whether it remains in stasis or is beginning to heat up — will be shaped this week by a series of data drops.
Job openings barely budged in March as the hiring rate reached its highest level in nearly two years, Labor Department data released Tuesday showed. But layoffs also crept higher.
The S&P 500 (^GSPC) opened the week lower as oil prices spiked on renewed Iran tensions, with index futures slipping 0.1% after conflicting reports about a U.S. warship near the Strait of Hormuz. WTI crude futures jumped 3% to trade above $105 per barrel, and Brent climbed 3% to above $111, pulling capital into energy names. Futures recovered once ... S&P 500 Faces Oil-Fueled Sell-off Pressure in Possible Return to Merger Monday Deal
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