Wall Street rallied Friday, with the S&P 500 locking its longest winning streak in 20 years, boosted by strong U.S. job data and signals that China may restart trade talks.
🔹 Market Highlights:
- Dow Jones: +564 points (+1.39%)
- S&P 500: +1.47% — 9-day win streak, first since 2004
- Nasdaq: +1.51%
🔹 Jobs Report Surprise:
- 177,000 jobs added in April (vs. 135,000 expected)
- Investors saw this as a sign of economic strength despite trade uncertainty
🔹 Trump’s Trade Pause:
- Markets regained losses tied to Trump’s April 2 “reciprocal” tariff plans
- Hints of US-China negotiations and talks with India calmed fears
🔹 China’s Shift:
- Commerce Ministry says it’s “evaluating” U.S. proposals
- WSJ reports China is considering action on fentanyl concerns — a gesture toward cooperation
🔹 What’s Next?
“The labor market is strong, but the real test is how the trade situation evolves,” said David Russell of TradeStation.
- CNN’s Fear & Greed Index dipped back into “fear” after a brief neutral shift
- Fed rate cut expectations for June dropped to 36.6% (from 55%) as strong jobs data give Fed room to wait
- Trump demands: “NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!”
📊 Global Markets:
- Europe’s Stoxx 600: +1.67%
- Germany DAX: +2.62%
- Japan Nikkei 225: +1.04%
- Hong Kong Hang Seng: +1.74%
- 10-year U.S. Treasury yield: ↑ 4.3%
Dollar index: ↓ 0.3%