U.S. stocks rallied Friday as better-than-expected job growth and fresh signals from China about trade negotiations helped investors shake off recent concerns around tariffs.
The S&P 500 extended its winning streak to nine days, which is the longest in 20 years.
The S&P 500 rose 1.47%, marking its ninth straight day of gains—its longest winning streak since November 2004. The Dow Jones Industrial Average gained 1.39%, or more than 570 points, and the Nasdaq Composite climbed 1.51%.
Markets responded positively to the Labor Department’s April employment report, which showed the U.S. added 177,000 nonfarm payrolls, well above economists’ forecasts of around 135,000.
The unemployment rate held steady at 4.2%, suggesting continued resilience in the labor market despite recent economic headwinds.