On Friday, Wall Street extended its gains to a ninth consecutive day, marking the longest sequence of stock market victories since 2004 and recovering the land that it has lost since President Donald Trump intensified her trade war in early April.
The gathering was stimulated by a better than expected US labor market report And resurface the hope of catquering in the confrontation of American exchanges with China.
The S&P 500 has climbed 1.5%. The industrial average of Dow Jones added 1.4% and the NASDAQ composite increased by 1.5%.
The gains were wide. About 90% of the shares and each S&P 500 sector have advanced. Technological actions were one of the largest lifting companies. Microsoft increased by 2.3% and Nvidia increased by 2.5%. Apple, however, fell 3.7% after the iPhone manufacturer estimated that the prices will cost him $ 900 million.
Banks and other financial companies have also produced solid gains. JPMorgan Chase increased by 2.3% and the visa closed 1.5% more.
Employers added 177,000 jobs in April. This marks a slowdown in March hiring, but it was solidly better than the planned economists. However, the last employees do not yet reflect the effects on the economy of prices between the sides of President Donald Trump against American trade partners. Many of the most serious prices which were to come into force in April were delayed by three months, with the notable exception of prices against China.
“We have already seen how the financial markets will react if the administration is progressing with its initial pricing plan, so unless they take a different approach in July when the 90 -day break out, we will see market measures similar to the first week of April,” said Chris Zaccarelli, director of investments for Northlight Asset Management.
The S&P 500 fell 9.1% in the first week of April when Trump announced a major escalation of his trade war with more prices. The market has now recovered its losses since then, helped by a series of resilient profits from American companies, hopes to de -escalation of trade tensions with China and the expectations that the federal reserve will always be able to reduce rates several times this year.
The reference index is still down 3.3% so far this year, and 7.4% below the file it reached in February.
All in all, the S&P 500 increased from 82.53 points to 5,686.67. The DOW won 564.47 points at 41,317.43 and the NASDAQ added 266.99 points to 17,977.73.
The job market is closely monitored for signs of stress in the midst of business war tensions. A solid job has contributed to fueling solid consumer spending and economic growth in recent years. Economists are now concerned about the impact that import taxes will have on consumers and businesses, especially on the way higher costs affect hiring and expenses.
