Daily Rewind: Stock market rollercoaster

🎢 A lot is happening on Wall Street. President Trump sent shockwaves through the market after ordering strikes on Syria last night. And the jobs report posted today. Here’s what you need to know:

Shannon Gupta
CNN MoneyStream
2 min readApr 7, 2017

--

  1. Markets react to Trump’s Syria air strike. Trump’s military attack on Syria last night served a reminder to Wall Street that world conflicts can occur at any time in the unpredictable Trump era. Dow futures plunged over 150 points following the strike. Gold, a security blanket during times of worry, climbed to a 5-month high and oil also spiked (Syria isn’t a major oil exporter, but U.S. military action creates uncertainty in the Middle East). While American markets recovered a bit this morning, Russian markets are still responding to the strike. Russian stocks and currency both fell today. Read more from CNNMoney’s Matt Egan.
  2. Jobs report offers some wins and losses. U.S. unemployment dropped to 4.5% last month, its lowest level since May 2007. But hiring slowed substantially — employers only added 98,000 jobs. That’s disappointing, given the U.S. added 219,000 jobs in February. Overall, hiring has been strong this past year and analysts expect it will pick up again. The report also showed a boost in wages. They were 2.7% higher in March compared to this time a year ago. Read more from CNNMoney’s Heather Long.
  3. The tech industry’s beloved visa is in huge demand — again. H-1B visa applications have already hit their federally mandated threshold, just four days after the application opened. Silicon Valley relies on H-1Bs to allow foreign techies to work in America. Last year, 236,000 foreigners applied. Trump’s administration has vowed to crack down on abuse of the visa. In addition, the Justice Department issued a press release encouraging companies not to discriminate against American engineers. Read more from CNN Tech’s Sara O’Brien.

Find more important news here:

*Swedish Prime Minister condemns deadly Stockholm attack (Bloomberg)

*21st Century Fox gets the go-ahead to buy Sky News (WSJ)

*Disney wants to replace theme park actors with robots (Orlando Sentinel)

That’s all for today. Have a fantastic weekend! We’ll see you again Monday.

Thoughts? Feelings? Glaring typos? We’re here for you. CNNMoneystreamfeedback@turner.com.

--

--

Shannon Gupta
CNN MoneyStream

CNN journalist, 🐶🐱 mom & proud @Columbiajourn alumna. Email me: shannon.gupta@cnn.com.