CNBC Daily Open: Safe havens in vogue

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Weak quarterly kickoff
U.S. markets slid Thursday ahead of a crucial Friday jobs report, as yet another U.S. Federal Reserve official cooled expectations this week for imminent rate cuts. Oil prices climbed, with West Texas Intermediate crude for May delivery breaking above $86 per barrel and Brent for June delivery hitting $90.65 per barrel, their respective highest levels since Oct. 20. The Dow Jones Industrial Average closed down Thursday 1.35% at 38,596.98 in its biggest loss since March 2023 and fourth-straight daily loss. The S&P 500 ended down 1.23% at 5,147.21, while the tech-heavy Nasdaq Composite finished down 1.4% at 16,049.08.

Jobs report preview
Economists expect the U.S. March nonfarm payrolls, due Friday morning, to come in at 200,000, according to the Dow Jones consensus forecast. That would be weaker than February's initial 275,000, but still indicative of a solid hiring pace. Investors will likely focus on any other information pointing to weakening foundations in the labor market, scouring for clues on whether the U.S. Federal Reserve will hold off cutting rates.

EV realities
Ford Motor is delaying production of a new all-electric large SUV and another pickup truck model codenamed "T3" in its latest rejigging of EV plans. The automotive industry is confronting the reality of a slower rate of EV adoption among consumers even as production costs remain elevated.

Trusting Zuckerberg
Meta shares soared to an intraday record on Thursday, outperforming the broader market after Jefferies