Navigating the US Economy: Jobs, Inflation, and Growth Prospects

The US stock market was closed on Good Friday, giving investors time to digest the employment report which showed the US economy added 236,000 jobs in March, with the unemployment rate dipping to 3.5%. The report has increased the chance of the Federal Reserve hiking interest rates early next month. The Fed is expected to continue hiking in May rather than pause, bringing the benchmark rate to a target range of 5% to 5.25%. The stock market is expected to remain "rangebound" through much of 2023 as it works through "all the uncertainty and all the crosscurrents."