US stocks were firmly higher on Friday after evidence of a strong labor market softened concerns of a recession this year. The S&P 500, the Dow, and the Nasdaq 100 were all above 1% higher, with the former two set to record a nine-session win streak.
The US added 177 thousand jobs in April, more than expectations of 130 thousand, while the unemployment rate remained unchanged and wages grew loosely in line with expectations.
The stronger momentum was also owed to China noting that it will consider starting talks with the White House on potential trade deals. Gains were broad-based among most sectors of stock markets.
On the earnings front, Exxon Mobil and Chevron were both close to 2% higher after posting their results. Still, Apple fell 5% after the giant underscored that tariffs will hurt its earnings this year, while Amazon fell 1% on a weaker than expected guidance.
Source: Trading Economics
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