Closing Bell: Stocks kick off Q2 in the green, Council of Economic Advisers Chair on the March jobs report, and Cowens CEO on the banks new crypto offering 4/1/22
The major averages closing in positive territory to start the second quarter as investors digest the March jobs report and oil prices falling below $100 a barrel. Council of Economic Advisers Chair Cecilia Rouse weighs in on the employment picture and whether releasing 1M barrels per day from the Strategic Petroleum Reserve will really help bring down gasoline prices. Meanwhile, RBC Capital Markets\u2019 Lori Calvasina explains why she is downgrading the energy sector and reveals the sectors she favors instead. Bespoke\u2019s Paul Hickey on where he sees value in tech. Kraneshares\u2019 Brenand Ahern on the rebound in Chinese internet stocks. And Cowen CEO Jeff Solomon on the investment bank\u2019s move to start offering spot trading of crypto and whether he thinks other big banks will follow that move.