US STOCKS-Wall St lower as jobs data stokes rate hike concerns

viernes 1 de abril de 2016 09:59 GYT

* March payrolls data better than expected

* Tesla up after new sedan unveiled

* Indexes down: Dow 0.66 pct, S&P 0.75 pct, Nasdaq 0.76 pct (Updates to open)

By Abhiram Nandakumar

April 1 (Reuters) - Wall Street started the second quarter with losses on Friday after data showed U.S. employment rose more than expected in March, a sign of economic strength that could allow the Federal Reserve to gradually raise interest rates this year.

Stocks were also under pressure from a 4 percent fall in crude prices amid increasing skepticism that a looming deal to freeze crude production can help clear a global glut.

The Labor Department's report showed non-farm payrolls increased 215,000 in March, more than the 205,000 estimated.

While the unemployment rate rose to 5 percent from an eight-year low of 4.9 percent, it was because more Americans continued to return to the labor force.

"I think the strength of payrolls suggest the Fed will undoubtedly raise rates this year, likely in June," said David Carter, chief investment officer at Lenox Wealth Advisors in New York.   Continuación...