Stock Market Today: Stocks Closed Mixed in Choppy Trading
Volatility returned as market participants adjusted their expectations for rate cuts.


Volatility returned Monday and bond yields spiked as market participants adjusted their bets on when the Federal Reserve will start cutting interest rates. Last week's blowout jobs report, as well as upcoming inflation data and scheduled commentary from Fed policymakers, made for a choppy session.
The March jobs report released last week "eclipsed all expectations," notes Deutsche Bank, adding to the evidence that the Federal Open Market Committee (FOMC) need not rush to cut interest rates.
"While the March employment strength and recent re-acceleration in labor income growth reinforce Fed officials' lack of urgency to begin normalizing rates, the improving labor supply narrative that Chair Powell has recently emphasized remains well supported by the latest data," wrote Brett Ryan, senior U.S. economist at Deutsche Bank.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Data from the Bureau of Labor Statistics on Friday showed the U.S. added 303,000 new jobs in March – well above economists' expectations for 200,000. Additionally, the unemployment rate edged down to 3.8% from 3.9%.
One positive data point helping support calls for the Fed to start cutting rates was that average hourly earnings – a measure of inflation – rose at their slowest annual rate since June 2021. Still, the 0.3% month-over-month rise in wages was quicker than the 0.1% increase seen in February.
The yield on the benchmark 10-year Treasury note spiked to a 2024 high Monday as markets adjusted to the possibility that rates would remain higher for longer. As of April 8, futures traders assigned a 51% probability to the first quarter-point rate cut coming in June, down from 57% a week, ago, according to CME Group's FedWatch Tool.
At Monday's close, the Dow Jones Industrial Average was down 0.03% at 38,892, the S&P 500 was off 0.4% at 5,202, and the Nasdaq Composite was up 0.3% to 16,253.
CPI and earnings season on deck
Looking ahead, there are a few things investors will be paying close attention to in the day ahead. One is oil prices. Crude futures are up nearly 22% for the year to date, which "threatens the 'inflation is falling' narrative and has driven expectations higher," says Liz Young, head of investment strategy at SoFi.
Inflation will be front and center on the economic calendar, with the March Consumer Price Index (CPI) set for release Wednesday morning.
And finally there's earnings season. While this week's earnings calendar is relatively light, Friday's results from several big banks, including JPMorgan Chase (JPM), mark the start of the first-quarter reporting season.
Telsa jumps on robotaxi news
In single-stock news, Tesla (TSLA) gained 4.9% after CEO Elon Musk said that the electric vehicle (EV) maker would debut a robotaxi on August 8. Shares in Telsa gained about $25 billion in market value on the news.
Monday's TSLA rally followed Friday's fade, which was precipitated by a Reuters report suggesting the electric vehicle maker is scrapping plans for a low-cost car. In a post on X, Musk's social media platform, the Tesla CEO wrote "Reuters is lying (again)."
Related content
- Bank of America Gets Downgraded Ahead of Earnings
- TIPS vs I-Bonds
- How Interest Rates Impact Stock Prices
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Dan Burrows is Kiplinger's senior investing writer, having joined the publication full time in 2016.
A long-time financial journalist, Dan is a veteran of MarketWatch, CBS MoneyWatch, SmartMoney, InvestorPlace, DailyFinance and other tier 1 national publications. He has written for The Wall Street Journal, Bloomberg and Consumer Reports and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among many other outlets. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange.
Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.
In his current role at Kiplinger, Dan writes about markets and macroeconomics.
Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.
Disclosure: Dan does not trade individual stocks or securities. He is eternally long the U.S equity market, primarily through tax-advantaged accounts.
-
Stock Market Today: Trump Retreats, Markets Rejoice
Stocks rally, yields soften, the dollar rises, and even beaten-down names enjoy the wages of potential trade peace.
By David Dittman
-
In Trump’s Economy Should 401(k) Savers 'Set It and Forget It?'
It’s hard to bury your head in the sand when the markets are volatile. Here’s when it makes sense and when it doesn’t.
By Donna Fuscaldo
-
Stock Market Today: Trump Retreats, Markets Rejoice
Stocks rally, yields soften, the dollar rises, and even beaten-down names enjoy the wages of potential trade peace.
By David Dittman
-
Tesla Stock Pops as Elon Musk Promises DOGE Draw Back
Tesla reported a sharp drop in first-quarter earnings and sales, as the EV maker suffered a backlash to its CEO's political ambitions.
By Karee Venema
-
Bouncing Back: New Tunes for Millennials Trying to Make It
Adele's mournful melodies kick off this generation's financial playlist, but with the right plan, Millennials can finish strong.
By Alvina Lo
-
Early-Stage Startup Deals: How Do Convertible Notes Work?
Some angel investors support early startups by providing a loan in exchange for a convertible note, which includes annual interest and a maturity date.
By Murat Abdrakhmanov
-
Stock Market Today: Stocks Soar on China Trade Talk Hopes
Treasury Secretary Bessent said current U.S.-China trade relations are unsustainable and signaled hopes for negotiations.
By Karee Venema
-
How Can Investors Profit From AI's Energy Use?
Global energy demand is expected to grow by leaps and bounds over the next several years as AI usage accelerates. Here's how to get a piece of the pie.
By Jacob Schroeder
-
Can Trump Fire Powell? A Supreme Court Case Could Decide
Presidential posts threaten to overwhelm decades of precedent and tradition, whatever the nine justices decide.
By David Dittman
-
What Are AI Agents and What Can They Do for You?
AI agents promise to be the next big thing in artificial intelligence, but what exactly do they do?
By Tom Taulli