The major averages closed higher as weaker than expected revised jobs data lends more support for interest rate cuts next week. The Dow Jones Industrial Average rose 196 points or 0.43%. The S&P 500 rose 17 points while the Nasdaq Composite was up 80 points.

The Bureau of Labor Statistics updated its jobs figures for the 12 months through March, lowering the total payroll gains during that period by a more than 900,000 jobs. CEO, Jamie Dimon even mentioned today he thought the economy was weakening. Ironically, interest rates were higher. The 10-year Treasury rose 3 basis points to 4.08%. The 2-year yield climbed more than 5 basis points to 3.5%. The Fed will have two key inflation reports this week ahead of their policy meeting next week.

The big banks had a good day with JPMorgan Chase, Bank of America, Wells Fargo and Citigroup up over a percent. Morgan Stanley and Goldman were higher by more than 2%.

The big winner today was UnitedHealth Group up 8% after reaffirming guidance. Centene rose 7% while Molina Health and CVS were up over 2%.

Big cap tech had a good day outside Apple and Broadcom. Apple released their new line of products today including a new iPhone.

Oil was modestly higher as Israel attached Hamas leaders in Qatar. Gold and bitcoin were modestly lower today.

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