Market Coverage: Monday April 5th Yahoo Finance

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Stock futures jumped Monday morning as traders took in last week's much stronger-than-expected monthly jobs report and looked ahead to a busy week of commentary from Federal Open Market Committee (FOMC) members.

Contracts on the Dow gained more than 200 points, or 0.7%, with about two hours until the opening bell. Contracts on the S&P 500 and Nasdaq also pointed sharply higher in pre-market trading. Treasuries were mixed across the curve, and the yield on the 10-year Treasury note ticked up slightly to about 1.73%. Shares of GameStop (GME) sank more than 16% after the company announced an up to $1 billion share sale. Meanwhile, shares of Tesla (TSLA) jumped more than 7% after the electric vehicle-maker posted first-quarter deliveries that more than doubled over last year.

Traders on Monday returned from a long holiday weekend after Friday's stock market closure in observance of Good Friday. As a results, Monday's regular trading session marks the first since the March jobs report was released Friday morning, which showed that the economy gained a stunning 916,000 payrolls last month with an unemployment rate that ticked down to 6.0%.

This week's calendar will be relatively light in terms of new economic data, and very few corporate earnings results are slated for release. However, a number of Fed policymakers are scheduled to speak, offering their own assessment of how the latest, estimates-topping data informs their perspectives on when to tweak their ultra-accommodative monetary policy going forward. Chicago Fed President Charles Evans, Richmond Fed President Thomas Barkin and St. Louis Fed President Jim Bullard are each slated to deliver public remarks later this week, and Fed Chair Jerome Powell will speak at an an International Monetary Fund panel on the global economy Thursday afternoon.

The central bank is also poised to release the meeting minutes from its March FOMC meeting on Wednesday. While these will not account for the latest batch of economic data, the notes will offer a glimpse at policymakers' thinking over whether some members were inclined to look past the first signs of a faster-than-expected economic recovery in dictating the direction of monetary policy.

For more on this article which is updated throughout the day, please visit:
https://finance.yahoo.com/news/stock-market-news-live-updates-april-5-2021-112641523.html

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