Dow Jones Industrial Average closes the week on a bid tone following strong US data

• Dow Jones picks up, unfazed by the strong US NFP and hawkish comments by Fed’s Bowman. 
• A moderate slowdown in the yearly wage growth has eased investors’ concerns about the strong employment reading. 
• The sharp reversal in the weekly chart suggests that a deeper correction might be in progress.

The Dow Jones Industrial Average (DJIA) is moving higher on Friday, following upbeat US employment figures and hawkish rhetoric by Federal Reserve (Fed) Governor, Michelle Bowman. The index, however, is on track for its worst week in the last year as the strong US economic data has put the Fed’s easing plans into question.

Net employment increased in March by 303K, following a 270,000 increment in February and beating expectations of about a 200K rise. Wage figures revealed that salaries keep rising although the moderation in the annual rate seems to have left hopes for a June rate cut little changed.