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The United States' painstakingly slow recovery from the Great Recession is facing a speed bump.
The first month after the federal sequester registered a chill in the employment market. The March jobs report showed the filling of 88,000 posts, which was about half the figure economists expected. And a survey of small businesses released this week found owners less inclined to add jobs over the next few months.
And Wall Street is bracing for first-quarter earnings reports from U.S. companies. Alcoa kicked off this quarterly report season Monday with profits up 59 percent, but the Aluminum giant's gain was based on one-time benefits and cost reductions. And the price of the key building material is down, which indicates a possible slowdown in the construction industry.
As the rest of the earnings reports arrive over the next week, be prepared for a roller coaster ride, one way or the other.
The Dow has been trading at historic highs for two months, hitting an all-time record 14,673 points at Tuesday's closing bell. More positive earnings reports could drive the blue chip stocks over 15,000 points. Negative reports could prompt a sell-off as investors cash in or lose confidence in the U.S. economic recovery.
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