CNBC Daily Open: U.S. labor market is in ‘good shape'

Asia markets showed mixed performance on Monday as investors await the release of inflation data in the region. Hong Kong’s Hang Seng and mainland China’s CSI 300 experienced gains, while Japan’s Nikkei 225 and the Topix saw declines. Wall Street ended Friday on a mixed note ahead of the Good Friday holiday. The Dow slipped 0.77% but had its best week since December, nearing the 40,000 level. The S&P 500 fell 0.14%, while the Nasdaq rose 0.16%. IMF Managing Director Kristalina Georgieva called on China to implement pro-market reforms, stating that it could lead to significant economic growth. China has implemented new guidelines that block the use of Intel and AMD chips in government computers as it seeks to promote its domestic semiconductor sector. Automakers are concerned about a low-cost China-built electric vehicle, the BYD Seagull, which could disrupt the global automotive industry. A portfolio manager at investment bank Baird recommends a 60/40 strategy for investing $1 million. The US jobs market has remained resilient, with President Joe Biden and Federal Reserve Chair Jerome Powell expressing optimism about the labor market. Wage gains may pose a challenge for the Fed’s efforts to control inflation.