Companies in the US hired substantially fewer workers in March than economists expected, according to this morning’s monthly update from the Labor Department. But the sharp deceleration in growth looks like monthly noise, based on the steady moderate pace for the year-over-year increase in private employment.
Momentum-based strategies have led the factor-investing horse race for US equities in recent history, but the latest surge in market volatility may be its undoing. For the trailing 30-day period, the momentum factor’s modest loss leaves it in last place, based on a set of ETFs tracking key US-based factor strategies. By contrast, the best-performing factor strategy for this time window – core small-cap stocks – has managed to post a modest increase.
Trump considers an additional $100 billion in tariffs on China’s goods: Retuers
China vows to counter US protectionism “to the end, and at any cost”: Bloomberg
ECB board member says trade fears already pinching economy: Reuters
Fed chair Powell expected to defend gradual rate hikes: MarketWatch
Jobless claims in US jumped to three-month high last week: MarketWatch
US firms announce sharply higher number of job cuts in March: CNBC
US trade deficit near 10-year high in February: Wall St Journal
13 big mutual fund firms agree to rstart reporting active share data: Reuters
Slower labor force growth is a headwind for US GDP growth: SF Federal Reserve