U.S. Stock Futures Are Higher After Solid Employment Report From Friday
U.S. stock futures are higher: Future are pointing to a positive opening for equity markets after a solid employment report from Friday. Employment growth continues as covid restrictions are loosened and the unemployment rate declined to 3.6% in March and is close to its pre-pandemic rate of 3.5%. However, this report may allow the FOMC to aggressively hike benchmark interest rates. The FOMC minutes will be released on Wednesday afternoon and may provide additional insights into future policy issues. The 2y treasury yield is roughly 3 bps higher compared to the 10y rate and rates are holding steady. Global energy prices are inching higher; however, Western nations are expected to release strategic reverses within the next couple of weeks as energy supplies from Russia are being removed from global markets. European markets are trading higher and Asian markets closed higher.