Stocks are slowly working their way into the second quarter, with the Nasdaq and S&P 500 notching modest wins. The Dow, however, continued its rocky second-quarter start, dropping 43 points after steep triple-digit losses the past two days. Despite the better-than-expected ADP employment report, Fed Chair Jerome Powell noted that the overall picture hasn’t changed and that more evidence is needed to cut rates. Investors are also eyeing the ISM services purchasing managers’ index (PMI), which fell to 51.4 in March from the previous month’s 52.6 — the second-straight monthly decline and below analyst estimates, though still above the 50-mark that indicates growth. 
COMMODITIES CONTINUE THEIR RAMPANT RUNS
Oil prices rose for the fourth consecutive session, as tensions in the Middle East continue to raise concerns. May-dated West Texas Intermediate (WTI) rose 28 cents, or 0.3%, to settle at $85.43 a barrel. Gold prices hit yet another record high today following Powell’s comments. June-dated U.S. gold futures rose $34.05, or 1.5%, to settle at $2,315.85 per ounce. More By This Author:Stocks Attempt Bounce Despite Surging Bond YieldsDow Drops Triple Digits as Stocks Extend Second-Quarter SlumpDow Stumbles, Heads For Worst Day Since February
