US stocks surge as jobs data eases recession fears, S&P 500 eyes 20-year win streak
The post US stocks surge as jobs data eases recession fears, S&P 500 eyes 20-year win streak appeared on BitcoinEthereumNews.com. Stocks surged on Friday after the April nonfarm payrolls report beat Wall Street’s expectations, pushing the S&P 500 toward its longest run of gains in over two decades. The index rose 1.5%, putting it on track for its ninth straight win, a streak not seen since November 2004. The Dow Jones jumped 552 points (a 1.3% gain) and the Nasdaq added 1.7%. That rally erased losses the S&P had carried since April 2, the day President Donald Trump reintroduced tariffs he labeled “reciprocal.” The Nasdaq had already bounced back the day before. The hiring numbers for April came in hot. The US economy added 177,000 jobs, topping the 133,000 estimate from Dow Jones. It was still a drop from the 228,000 added in March, but nobody expected that kind of strength after weeks of recession panic. The unemployment rate stayed flat at 4.2%. Wall Street’s recession fears are easing up Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management, said, “Markets breathed a sigh of relief this morning as the jobs data came in better than expected.” Chris warned that recession fears aren’t gone, but “the buy-the-dip dynamic can continue—at least until the tariff pause runs out.” Investors were already optimistic before the data hit. China hinted it might start trade negotiations with the US, but made it clear talks won’t happen unless Trump cancels all unilateral tariffs. Chinese officials said: “If the US wants to talk, it should show its sincerity and be prepared to correct its wrong practices and cancel the unilateral tariffs.” Later, the Wall Street Journal reported that Beijing is open to discussions. Apple stock dropped 3% after the company reported a miss in its services division for Q2. Apple also said it expects $900 million in new costs this quarter because of tariffs. Amazon did…
The post US stocks surge as jobs data eases recession fears, S&P 500 eyes 20-year win streak appeared on BitcoinEthereumNews.com.
Stocks surged on Friday after the April nonfarm payrolls report beat Wall Street’s expectations, pushing the S&P 500 toward its longest run of gains in over two decades. The index rose 1.5%, putting it on track for its ninth straight win, a streak not seen since November 2004. The Dow Jones jumped 552 points (a 1.3% gain) and the Nasdaq added 1.7%. That rally erased losses the S&P had carried since April 2, the day President Donald Trump reintroduced tariffs he labeled “reciprocal.” The Nasdaq had already bounced back the day before. The hiring numbers for April came in hot. The US economy added 177,000 jobs, topping the 133,000 estimate from Dow Jones. It was still a drop from the 228,000 added in March, but nobody expected that kind of strength after weeks of recession panic. The unemployment rate stayed flat at 4.2%. Wall Street’s recession fears are easing up Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management, said, “Markets breathed a sigh of relief this morning as the jobs data came in better than expected.” Chris warned that recession fears aren’t gone, but “the buy-the-dip dynamic can continue—at least until the tariff pause runs out.” Investors were already optimistic before the data hit. China hinted it might start trade negotiations with the US, but made it clear talks won’t happen unless Trump cancels all unilateral tariffs. Chinese officials said: “If the US wants to talk, it should show its sincerity and be prepared to correct its wrong practices and cancel the unilateral tariffs.” Later, the Wall Street Journal reported that Beijing is open to discussions. Apple stock dropped 3% after the company reported a miss in its services division for Q2. Apple also said it expects $900 million in new costs this quarter because of tariffs. Amazon did…
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