Daily Wrap

Last week when the stock market was closed for Good Friday, the March employment report showcased 916,000 additions to nonfarm payrolls (consensus 627,000) and a 6.0% unemployment rate (consensus 6.0%), versus 6.2% in February. Today, the ISM Non-Manufacturing Index increased to a record 63.7% in March (consensus 58.5%) from 55.3% in February. Most of Europe…