The stock market is expected to increase today prior to the release of the jobs report, which follows the poorest performance in the past two years.

BY THE NUMBERS

The Dow and S&P 500 closed down 4.57% and 4.95%, respectively, for Q1, while the Nasdaq lost 9.1%. The market has been struggling due to a rate-hiking cycle from the Fed, high inflation, and Russia's invasion of Ukraine.

The jobs reports on Friday could affect the Treasury spreads, as the inversion that occurred one day after the brief rise above the 2019 level often signals market concerns about an economic recession. The short-duration yields surpassing the longer-dated ones indicate the Fed's potential to raise interest rates too quickly. (Source: CNBC)

If the Fed receives a strong jobs report on Friday, it may feel more confident to continue its aggressive rate-raising plan this year, which aims to combat inflation without slowing the economy too much. According to economists, 490,000 jobs were added in March, and the nation's unemployment rate is expected to decrease to 3.7% in March. (Source: CNBC)

GameStop's (GME) shares surged 15% in Friday's premarket following the announcement of a stock split plan. The video game retailer intends to request approval for an increase in Class A common stock from 300 million to 1 billion shares at its next shareholder meeting, which will enable the company to conduct a split in the form of a stock dividend.

IN THE NEWS TODAY

Russian troops left the heavily contaminated Chornobyl nuclear site early Friday after returning control to the Ukrainians. In what would be the first attack of its kind, if confirmed, the governor of Russia’s Belgorod region accused Ukraine of flying helicopter gunships across the border Friday morning and striking an oil depot. Putin talks tough on gas-for-rubles deadline. But flows continue to Europe. Russian foreign minister’s high profile visit puts India under pressure. China says U.S. instigated war in Ukraine, Soviet break-up should’ve been end to NATO. Oil seesaws as IEA considers emergency oil reserves release along side U.S.

The Defense Production Act will be invoked by President Joe Biden to promote domestic production of minerals needed for electric vehicle batteries and long-term energy storage. The president's order could aid companies in obtaining government funding for feasibility studies on extraction projects. (Source: CNBC)

FB has lost several top AI scientists this year as it continues to shift its focus to the metaverse. At least four prominent members of Meta AI have left in recent months, according to sources and LinkedIn analysis. (CNBC) Chinese EV companies Xpeng, Nio, and Li Auto reported a surge in car deliveries in March. (CNBC) Federal authorities are investigating trading activity around Activision, which has ensnared Barry Diller and David Geffen. (WSJ)

The union supporters at Amazon's warehouse in Bessemer, Alabama, on Thursday appeared to be facing defeat for a second time. However, with hundreds of contested ballots at stake, the election results are still too close to call. (CNBC)

STOCKS TO WATCH

J.P. Morgan Securities removed Apple (AAPL) from its "Analyst Focus List" due to concerns about a moderation in consumer spending limiting the benefits of the iPhone SE launch and potential upside in services revenue. Despite this, the firm maintained an overweight rating on the stock.

Despite unexpected profit in its latest quarter, BB's communications software company's revenue fell below analyst forecasts. The revenue miss was due to growth in its cybersecurity unit flattening. Shares slid 4.4% in premarket trading.

Citi upgraded WYNN to buy from neutral, citing increasing clarity over regulations and licenses in Macau and an attractive valuation.

AMC Entertainment (AMC) invested in HYMC, a small-cap mining company, which reported a smaller-than-expected quarterly loss. As a result, HYMC added 3% in the premarket, while AMC shares rallied 4.6%.

Despite healthy profit potential and a highly engaged user base, Stifel cut its rating of the online clothing marketplace to hold from buy, causing POSH to slide 2.2% in premarket trading.

WATERCOOLER

Will Smith was ready to be arrested by Los Angeles police for slapping Chris Rock on the Academy Awards stage, but in a clip released by ABC News, Will Packer said that Rock was "very dismissive" of the idea.