JUST IN: The U.S. stock market's S&P 500 index has recorded its 9th consecutive day of gains, marking the longest winning streak in over 20 years.
This rally is largely driven by a strong U.S. jobs report and renewed optimism over easing trade tensions with China.
Key Highlights:
The S&P 500 closed up by 1.5%, completing its 9th straight day of gains.
The Dow Jones Industrial Average rose by 571 points (1.4%).
The Nasdaq Composite increased by 1.6%.
Reasons Behind the Rally:
The U.S. added 177,000 jobs in April, surpassing economists' expectations.
China has expressed willingness to resume trade negotiations with the U.S., raising hopes of resolution.
Strong performance by major tech companies like Microsoft and NVIDIA supported market momentum.
Cautions:
Apple has warned of a $900 million tariff impact on its earnings, causing its stock to fall by 4%.
Analysts caution that such rallies may not be sustainable, especially if trade tensions re-escalate.
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