2025.05.0220:01:29UTC+00US Stocks Rally on Strong Jobs Report, China Talks

U.S. stocks experienced a significant rally on Friday, driven by a robust jobs report and indications of diminishing U.S.-China trade tensions, which bolstered investor confidence. The S&P 500 climbed nearly 1.5%, marking its ninth consecutive gain and achieving its longest winning streak in two decades. The Dow Jones increased by 563 points, continuing its own nine-session rally, while the Nasdaq rose by 1.5%. April's nonfarm payrolls increased by 177,000, exceeding expectations and enhancing optimism regarding the labor market, despite persistent uncertainties surrounding tariffs. Investor sentiment received an additional boost from Beijing's willingness to engage in renewed trade discussions, provided the U.S. agrees to reduce tariffs. Nonetheless, corporate earnings presented a mixed picture—Apple's shares declined by 3.7% following a warning of a $900 million impact due to tariffs, while Amazon's shares dipped slightly by 0.1% amid cautious guidance. Exxon Mobil saw a 0.4% increase, and Chevron advanced by 1.7% after releasing their financial results. Overall, for the week, the S&P 500 gained 2.3%, the Dow increased by 2.5%, and the Nasdaq rose by 2.7%.