In this context, the Dow Jones index of industrialists rose 1.39% to 41,317.43 points; The S&P500 won 1.43% to 5,684.13 points and Nasdaq Composite showed 1.51% to 17,977.73 points.
Surprise in labor records
The payrolls increased by 177,000 jobs last month, After an increase reviewed 185,000 in March, according to the Office of Labor Statistics of the Department of Labor in its Employment Report.
Economists had predicted the creation of 138,000 jobs last month, after an increase of 228,000 in March. The unemployment rate remained unchanged in 4.2% last month, while the average per hour increase increased by 0.2%, a slight fall with respect to the 0.3% increase in March.
The labor market continues to show a certain strength in the face of employers’ reluctance to say goodbye, after the difficulties in finding labor during and after the Covid-19 pandemic. However, warning signs accumulate, with GDP data that show an unexpected contraction of the US economy in the first quarter.
China points out possible commercial negotiations with the US
The China Ministry of Commerce declared Friday, that Beijing was evaluating the possibility of establishing commercial negotiations with the US, and added that any dialogue should be based on sincerity and elimination of unilateral tariffs.
These comments occurred in response to the recent statements of the United States that suggested their willingness to establish trade negotiations. The China Ministry of Commerce said Washington sent signals through various channels to initiate conversations.
Global markets have been agitated this month because of the fear that a broader commercial war can lead to the global economy to a recession.
Two of the “7 magnificent” did not meet expectations
Apple’s shares, iPhone manufacturer, rose 0.3% after the company announced that it provides costs of approximately US $ 900 million for the next quarter due to tariffs.
Apple published the fiscal results of the second quarter that overcome Wall Street estimates thanks to better iPhone sales than expected, but concern for tariffs diminished optimism.
For their part, Amazon titles dropped 0.2% after the electronic commerce giant reported more moderate forecasts for the current quarter and a disappointing growth in its key cloud computing segment.
In other sectors Airbnb shares rose 1.2% despite the fact that the short -term rental company issued weak perspectives for the second quarter, attributing the lower demand for trips in the US to economic uncertainty.
Exxon Mobil advanced 0.4% after the oil company exceeds the expectations of first quarter, thanks to the greater production of oil and gas in Guyana and the Permica basin, which promoted the profits.
Almost two thirds of the companies of the S&P500 have already announced their results, and 76% have registered profits that exceeded estimates, according to FACTSET data, a company that offers software and financial data solutions for investment professionals.
Nvidia, a separate chapter
Nvidia Corporation actions rose 3%, indicating the continuous efforts of the company to adapt the design of its chips to the Chinese market, after the export restrictions imposed by the US.
The movement of the company’s actions is produced after a report by The Information “detailing Nvidia’s communication with important Chinese clients, such as Bytedance, Alibaba Group and Tencent Holdings.”
The technology is modifying the design of its AI chips to comply with the US export laws. UU. Executive director Jensen Huang, informed his clients about the company’s plans, during a recent visit to Beijing, shortly after the US government expanded the IA chip list, which require approval for its sale to China.
This regulatory change caused in NVIDIA an early depreciation of US $ 5,500 million for the last quarter and motivated the drop in the price of its shares.
The strategic change to comply with export regulations and maintain their presence in the Chinese market seems to have reassured investors, contributing to the rise of their titles.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
