Wall Street Rallies on Stronger-Than-Expected U.S. Jobs Report

By: fxleaders|2025/05/02 18:30:02

New York’s main stock indices extended their early-month rally on Friday after stronger-than-expected U.S. employment data raised expectations that the Federal Reserve may need to reassess its strategy in the upcoming meeting. The New York Stock Exchange opened in positive territory, with the Dow Jones Industrial Average rising 0.94% to 41,137 points following the April jobs report, which beat analyst forecasts. The S&P 500 climbed 0.88% to 5,653 points, while the tech-heavy Nasdaq advanced 0.71% to 17,836 points. According to the Bureau of Labor Statistics (BLS), the U.S. unemployment rate in April held steady at 4.2%, matching March’s level. The economy added 177,000 jobs last month, slightly above the 12-month average. The gains were led by hiring in healthcare, financial services, social assistance, transportation, and warehousing sectors. The data gives the Federal Reserve more reason to remain cautious at next week’s policy meeting, potentially slowing the pace of interest rate cuts. Both inflation and the labor market appear to be aligning with expectations. Market sentiment was already positive ahead of the jobs report, following comments from China indicating that the U.S. has repeatedly shown willingness to negotiate tariffs, and that Beijing remains open to talks. Corporate Movers On the corporate front, Apple (NASDAQ: AAPL ) shares fell 4.81% after its Q1 earnings report failed to meet analyst expectations. Amazon (NASDAQ: AMZN ) also declined 1.46%, leading losses among the Dow Jones’ top 30 components. The session’s biggest gainers included Nvidia (NASDAQ:NVDA), up 2.36%, and both Microsoft (NASDAQ:MSFT) and Caterpillar (NYSE:CAT), each rising 2.28%. By sector, the strongest performances came from industrials (+1.62%), financials (+1.52%), and healthcare (+1.47%). The only sector in the red at the time was materials, slipping 0.04%.

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