Wall Street's Week Ahead: Dow Jones Industrial Average Jumps 100 Points Ahead Of FOMC Minutes

dow — The Dow Jones Industrial Average briefly tumbled more than 100 points Monday, but turned positive in morning trading despite Friday’s weaker-than-expected jobs report. Investors are now looking ahead to the minutes from the Federal Open Market Committee's latest meeting, the central bank's board that determines the direction of monetary policy. Reuters/Brendan McDermid

U.S. stocks began the week with a roller-coaster trading session Monday as the Dow Jones Industrial Average briefly tumbled more than 100 points. Within the first hour of trading, however, stocks rebounded with a 100-point leap, following relatively upbeat statements about the U.S. economy from a top Fed official who delivered a speech at the New Jersey Performing Arts Center in Newark.

The comments come after Friday’s surprising weaker-than-expected jobs report, as the disappointing nonfarm payrolls data postponed expectations for a rate hike from the U.S. Federal Reserve in June.

Market professionals are turning their attention to the minutes from the Federal Open Market Committee's latest meeting, which will be released Wednesday.

In morning trading Monday, the Dow Jones Industrial Average (INDEXDJX:.DJI) briefly dropped more than 100 points, or 0.1 percent, to 17,646.80. Then the blue-chip index rebounded in early trading and leaped 100 points, or 0.53 percent, to 17,866.37. The Standard & Poor's 500 (INDEXNASDAQ:.IXIC) added 3.07 points, or 0.15 percent, to 2,070.03. The Nasdaq composite (INDEXSP:.INX) rose 2.09 points, or 0.04 percent, to 4,889.03.

It is unclear whether the weak jobs report in March signals the economy is slowing, New York Federal Reserve President William Dudley said during his talk in New Jersey. Dudley is a voting member of the Federal Open Market Committee, the central bank's board that determines the direction of monetary policy.

Minutes from the central bank's March meeting will come on Wednesday at 2 p.m. EDT. Investors look for clues to the timing of the Fed’s rate hike, which most economists anticipate will happen in late spring or early fall.

Meanwhile, the euro edged higher against the dollar Monday, rising above $1.10, as the new U.S. payrolls data inspired a minor selloff. The U.S. dollar index, which measures the greenback against major world currencies, fell 0.14 percent to $96.45.

Fears of a Greek exit from the eurozone subsided after Finance Minister Yanis Varoufakis said Sunday the country "intends to meet all obligations to all its creditors, ad infinitum," following a meeting with International Monetary Fund managing director Christine Lagarde in Washington over the weekend. Greece is scheduled to pay the IMF 450 million euros ($494 million) Thursday.

Separately, oil prices rose more than $1 per barrel Monday after Saudi Arabia raised crude prices to Asia for the second month, indicating improved demand in its largest market. West Texas Intermediate crude, the benchmark for U.S. oil prices, lost more than 1 percent to $49.40 a barrel, for May 15 delivery, on the New York Mercantile Exchange. Brent crude, the benchmark for global oil prices, fell more nearly 3 percent to $55.41 a barrel, for May 15 delivery, on the London ICE Futures Exchange.

Here's the economic calendar for the week of April 6. All listed times are EDT.

Monday