Despite a weaker-than-expected jobs report released on Good Friday, a day when markets were closed, last week proved to be a positive one for stocks. Driven in part by a major strategic announcement released by General Electric (GE) on Friday, large caps ended the week up more than 1.5%, while a 2.23% gain propelled the Nasdaq to retake the year-to-date top spot. The dollar, which had been falling in recent weeks, rebounded after Federal Open market Committee (FOMC) meeting minutes and a strong unemployment claims report reinvigorated speculation surrounding a potential interest rate hike in the coming months.
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