US Stock Market Highlights: US stocks surged on Friday (May 2) after a stronger-than-expected April jobs report helped calm recession concerns, pushing the S&P 500 to its longest winning streak in over 20 years.
US Stock Market Highlights: US stocks surged on Friday (May 2) after a stronger-than-expected April jobs report helped calm recession concerns, pushing the S&P 500 to its longest winning streak in over 20 years. The S&P 500 rose 1.47% to close at 5,686.67, marking its ninth consecutive day of gains — the longest such streak since November 2004. The Dow Jones Industrial Average climbed 564.47 points, or 1.39%, ending the session at 41,317.43. The Nasdaq Composite added 1.51%, finishing at 17,977.73. The rally was fueled by April nonfarm payroll data, which showed 177,000 jobs added during the month, well above the 133,000 expected by economists surveyed by Dow Jones. While the figure is down from March’s revised 228,000, it helped ease fears of an economic slowdown. The unemployment rate held steady at 4.2%, matching expectations. Friday’s gains also meant that the S&P 500 has now erased all losses incurred since April 2, when President Donald Trump announced his new “reciprocal” tariff policy. The Nasdaq had already recovered its April losses in the previous session. Berkshire Hathaway Inc. will release its Q1 earnings on Saturday, May 3, 2025, at around 5:30 p.m. IST. The company will also hold its 2025 Annual Shareholders Meeting on the same day. The market is now focused on the upcoming US non-farm payrolls report, which is scheduled for release at 6:00 p.m. IST on Friday.