The ADP National Employment Report for March shows 191,000 new workers were added to the domestic private labor market. Following the positive jobs report, global equity markets responded in a big way, with returns north of 1.5% this week. “Following the positive jobs report from ADP for the month of March, global and US equity markets are up between 1.5% and 2% this week heading into the beginning of the second quarter,” said David Krein, Head of Research, NASDAQ OMX Global Indexes.
INDEX MOVES THIS WEEK
- NASDAQ BIOTECHNOLOGY INDEX (NBI) was up 4.99% since Friday’s close. Year-to-date performance for the index is up 6.3%.
- PHLX GOLD/SILVER SECTOR (XAU) was flat 0.33% as of noon on Wednesday, from the most recent Friday close. The price of gold is currently $1,292 per ounce, down $2 this week.
- NASDAQ CLEAN EDGE GREEN ENERGY (CELS) was up 4.56% this week. Tesla, one of the core holdings of the index, has been in the news quite a bit this week with the announcement of a $5B battery factory set to be built in four states.
INDEX TO WATCH
- The price of natural gas has bounced around since early November 2013, starting under $3.60 and rising to $4.34 today. Track the space by monitoring the NASDAQ Commodity Natural Gas Index ER (NQCINGER). The index is down 3% this week but up 15% year-to-date.