Stocks edge out gain as oil settles at $99 level

U.S. employers added 431,000 jobs in March, the unemployment rate fell to 3.6%

U.S.stocks rose in a choppy session to end the week and started the second quarter with gains. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 30967.82 -129.44 -0.42%
SP500 S&P 500 3831.39 +6.06 +0.16%
I:COMP NASDAQ COMPOSITE INDEX 11322.237524 +194.39 +1.75%

The Dow Jones Industrial Average rose over 139 points, or 0.4%, while the S&P 500 and Nasdaq Composite gained 0.34% and 0.3%, respectively. 

Stocks managed to end higher even with declines in large-cap names, including Intel, Apple and Caterpillar. 

Ticker Security Last Change Change %
INTC INTEL CORP. 36.69 +0.35 +0.96%
AAPL APPLE INC. 141.56 +2.63 +1.89%
CAT CATERPILLAR INC. 173.76 -4.53 -2.54%

Wall Street on Thursday closed out its worst quarter since the pandemic started two years ago.

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The U.S. economy added 431,000 new nonfarm jobs in March, slightly below expectations for 490,000. That follows a much larger than expected gain of 678,000 in February. The unemployment rate fell to 3.6%, down from 3.8% the prior month and the lowest since February 2020. 

In stocks, GameStop shares jumped after the company said it would request shareholder approval at its annual meeting for an increase in the number of shares of the video game retailer to enable a stock split. Other meme stocks may be active as well. 

Ticker Security Last Change Change %
GME GAMESTOP CORP. 120.23 -3.19 -2.58%
AMC AMC ENTERTAINMENT HOLDINGS INC 12.78 -0.75 -5.54%
BBBY BED BATH & BEYOND INC. 4.64 -0.07 -1.49%

Banks remain active in tandem with rising bond yields, which dictate interest rates on loans and lending power for banks. The yield on the 10-year Treasury rose to 2.374%, snapping a three-week winning streak.

Ticker Security Last Change Change %
JPM JPMORGAN CHASE & CO. 112.62 -1.43 -1.25%
WFC WELLS FARGO & CO. 40.10 +0.18 +0.45%
C CITIGROUP INC. 46.61 -0.26 -0.55%
GS THE GOLDMAN SACHS GROUP INC. 297.20 -2.03 -0.68%
BAC BANK OF AMERICA CORP. 31.24 -0.32 -1.01%

STRONG JOB GAINS EXPECTED IN MARCH EMPLOYMENT REPORT

In other economic news, the ISM’s manufacturing purchasing managers index came in at 57.1. A number above 50 signals expansion. Construction spending rose 0.5%, just below the previous month’s 1.3% gain and below estimates. 

Marathon refinery

Storage tanks are seen at Marathon Petroleum's Los Angeles refinery, which processes domestic and imported crude oil. Picture taken with a drone. (REUTERS/Bing Guan / Reuters Photos)

U.S. oil prices fell to $99.27, while Brent, the global benchmark, slid to $104.39 as investors weighed the release of emergency oil reserves announced by the United States.

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 74.78 -6.89 -8.44%
BNO UNITED STS BRENT OIL FD LP UNIT 30.82 -2.52 -7.57%

Bitcoin traded around $46,000.

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FOX Business' Ken Martin and The Associated Press contributed to this report.