US Stocks Rally on Strong Jobs Report, China Talks
US stocks rallied on Friday, fueled by a strong jobs report and signs of easing US-China trade tensions that boosted investor confidence.
The S&P 500 rose nearly 1.5%, marking its ninth straight gain and its longest winning streak in two decades. The Dow Jones surged 563 points, also extending its rally to a ninth consecutive session, while the Nasdaq climbed 1.5%. April’s nonfarm payrolls rose by 177,000, beating expectations and reinforcing optimism about the labor market despite ongoing tariff uncertainty.
Sentiment was further supported by Beijing's openness to renewed trade talks, contingent on the US reducing tariffs. However, earnings results remained mixed—Apple shares slipped 3.7% after warning of a $900 million tariff hit, while Amazon edged loer by 0.1% after cautious guidance.
Exxon Mobil rose 0.4% and Chevron advanced 1.7% after posting their results. For the week, the S&P 500 rose 2.3%, the Dow added 2.5%, and the Nasdaq jumped 2.7%.
Source: Trading Economics