U.S. Stocks Surge on Positive Jobs Data and Trade Hopes
U.S. stocks soared on Friday, driven by strong job growth and encouraging signs from China on trade. The S&P 500 enjoyed its ninth consecutive day of gains, the longest streak since 2004.It climbed 1.47%, while the Dow Jones Industrial average rose 1.39%, and the Nasdaq Composite gained 1.51%.
The Labor Department’s April report revealed that the U.S. added 177,000 nonfarm jobs, surpassing expectations of 135,000. The unemployment rate stayed at 4.2%, indicating a robust labor market.
China’s Commerce Ministry expressed readiness to discuss trade if the U.S.eases tariffs.This shift in tone follows president Trump’s recent tariff announcements. The possibility of trade talks lifted investor spirits.
However, Big Tech earnings tempered some optimism. Apple’s shares fell nearly 5% due to tariff concerns, while Amazon’s flat performance reflected lower-than-expected guidance.
Despite Friday’s positive momentum, caution persists. Investors are closely monitoring interest rate developments. Treasury yields increased, and the dollar weakened slightly as markets adjusted expectations.
