US stocks rose on Friday, extending their winning streak and surpassing the longest consecutive daily gain since 2004. The S&P 500 index closed higher by 1.47%, while the Nasdaq Composite gained 1.51%. The Dow Jones Industrial Average posted a 1.39% increase, marking its ninth consecutive daily gain.
China signaled its openness to trade talks with the US, easing some market concerns. The news came after Labor Department data showed the economy added 177,000 jobs in April, beating expectations of around 135,000 jobs. This boosted investor confidence and fueled a rally in stocks.
The strong jobs report also relieved some fears about the economy’s health, as investors now have breathing room to avoid a recession if trade issues are resolved sooner rather than later. However, policy uncertainty persists, with traders still focused on trade negotiations and data releases in coming months.
Wall Street’s rally was also driven by strong earnings results from Meta and Microsoft, which boosted investor confidence in Big Tech’s resilience. The Nasdaq Composite recovered its losses since April 2, while the tech-heavy index extended those gains on Friday.
For now, investors will continue to monitor trade developments and data releases, but some analysts believe that navigating policy uncertainty is the most significant focus for investors in the coming weeks. The US dollar index fell 0.3%, while the yield on the 10-year Treasury rose above 4.3%.
Source: https://edition.cnn.com/2025/05/02/investing/us-stock-market