New York (AP) – Actions increased in Wall Street in the morning on Friday following a stronger than expected US labor market report.
The S&P 500 won 1.3%, putting the index on the right track for a ninth consecutive day of winnings. The industrial average of Dow Jones increased by 449 points, or 1.1%, at 11:06 am, to the east. The NASDAQ composite increased by 1.4%.
The gains were wide. Technological actions were one of the largest lifting companies. Microsoft jumped 2.1% and Nvidia increased by 2.6%. Apple, however, fell 3.3% after the iPhone manufacturer estimated that the prices will cost him $ 900 million.
Banks and other financial companies have also produced solid gains. JPMorgan Chase increased by 2.1% and the visa jumped 1.6%.
The merchant Rob Taylor works on the New York Stock Exchange, Friday May 2, 2025. (AP photo / Richard Drew)
Employers added 177,000 jobs in April. This marks a slowdown in March hiring, but it was solidly better than the planned economists. However, the last employees do not yet reflect the effects on the economy of prices between the sides of President Donald Trump against American trade partners. Many of the most serious prices which were to come into force in April were delayed by three months, with the notable exception of prices against China.
“We have already seen how the financial markets will react if the administration is progressing with its initial pricing plan, so unless they take a different approach in July when the 90 -day break out, we will see market measures similar to the first week of April,” said Chris Zaccarelli, director of investments for Northlight Asset Management.
The S&P 500 fell 9.1% in the first week of April when Trump announced a major escalation of his trade war with more prices. The market has now retreated its losses since then, helped by a series of resilient profits from American companies, hopes to de -escalation of trade tensions with China and the excurities that the Federal Reserve will always be able to reduce rates several times this year.
The merchant Edward Curran works on the prosecution of the New York Stock Exchange, Friday May 2, 2025. (AP Photo / Richard Drew)
The job market is closely monitored for signs of stress in the midst of business war tensions. A solid job has contributed to fueling solid consumer spending and economic growth in recent years. Economists are now concerned about the impact that import taxes will have on consumers and businesses, especially on the way higher costs affect hiring and expenses.
The economy already shows signs of stress. The American economy has decreased At an annual rate of 0.3% in the first quarter of the year. He was slowed down by an increase in imports when companies were trying to get ahead of Trump’s prices.
The current tariff cycle and the nature of Trump’s policy have overshadowed planning for businesses and consumers. Companies have reduced and removed financial forecasts due to uncertainty about the quantity of prices cost them and how much they will tighten SAP consumers and expenses.
The specialist in Philip Final, on the left, and the merchant Robert Charmak work on the prosecution of the New York Stock Exchange, Friday May 2, 2025. (AP Photo / Richard Drew)
The hopes remain that Trump will retreat some of his prices after negotiating trade agreements with other countries. China was a key target, with 145%prices. His Ministry of Commerce said Beijing evaluates United States openings concerning prices.
Investors had a relatively calm day of reports after a busy week. Exxon Mobil fell 0.2% after reporting his lowest profit in the first quarter In the years. Rival Chevron increased by 0.5% after also reporting his smallest benefit in the first quarter over the years.
The fall in crude oil prices has weighed in the sector. Brut oil prices in the United States have dropped by around 18% for the year. They fell below $ 60 per barrel this week, which is a level at which many producers can no longer make a profit.
The block dropped by 21.9% after reporting a sharp drop in the first quarter profit which did not succeed in analysts’ forecasts. The financial technology company behind Cash App has cited a decline in travel expenses on travel and other discretionary articles as a key reason for results.
Treasury yields have increased on the bond market. The 10 -year -old treasure yield increased to 4.30% against 4.22% Thursday evening.
