Stock market today: Dow, S&P 500, Nasdaq jump amid jobs report beat, hopes for US-China ta

May 2, 2025

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Updated 5 mins ago

US stocks jumped on Friday as a solid jobs report and possible thawing in US-China trade tensions boosted spirits after earnings from Apple (AAPL) and Amazon (AMZN) shed light on the likely cost of tariffs.

The Dow Jones Industrial Average (^DJI) moved up 0.9%, on pace for a ninth straight day of gains. The S&P 500 (^GSPC) added 0.9%, headed for its first ninth straight win since 2004. The tech-heavy Nasdaq Composite (^IXIC) moved up 0.8%.

The monthly US jobs report came in better than expected, indicating labor resiliency despite a stock market shock following President Trump’s “Liberation Day” reciprocal tariff announcements. The US economy added 177,000 nonfarm payrolls in April, more than the 138,000 expected by economists. The unemployment rate held steady at 4.2%.

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Earlier on Friday, China said it is evaluating US officials’ recent overtures on trade talks to assess how serious Trump’s administration is about a shift in policy stance. Its commerce ministry said the “door is open” if the US agrees to pull back on reciprocal tariffs, paving the way to starting formal negotiations.

The comments helped ease worries that tariffs will stoke an economic slowdown, brought into focus by Apple and Amazon earnings reports late Wednesday.

Apple warned of a $900 million tariff headwind this quarter and cut its share buyback program by $10 billion, sending its stock lower in early trading despite its quarterly earnings beat. Meanwhile, Amazon shares were little changed after the e-commerce giant beat earnings estimates but issued disappointing guidance that pointed to tariff and trade policy as factors.

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Stocks rallied on Friday as the labor market proved resilient in the face of the tariff policy revealed by President Trump in early April and as China indicated it is willing to talk with the US about a trade deal.

The Dow Jones Industrial Average (^DJI) moved higher for a 9th straight day, climbing more than 1% soon after the open. The S&P 500 (^GSPC) rose 1.3%, on track to extend its longest win streak of 2025. Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) rose more than 1.2%.

The latest monthly jobs report came in better than expected, with hiring holding up in April despite Trump’s “Liberation Day” reciprocal tariff announcements that shook the markets.

China said on Friday it’s evaluating recent approaches from US officials to start negotiations about tariffs.

Among Big Tech, Apple (AAPL) stock declined after the iPhone maker warned of a $900 million tariff headwind this quarter. Amazon (AMZN) shares were little changed after the cloud and e-commerce giant issued disappointing guidance
Yahoo Finance’s Josh Schafer and Myles Udland report:

Read more here.
Eyes are on monthly jobs report, the first since President Trump’s “Liberation Day” tariff launch, for signs of cooling in the labor market.

Economists expect nonfarm payrolls to have risen by 135,000 in April and the unemployment rate to hold steady at 4.2% when the report is released at 8:30 a.m. ET. In March, the economy added 228,000 jobs

Yahoo Finance’s Josh Schafer reports:

Read more here.
Earnings: Apollo (APO), Chevron (CVX), Cigna (CI), Exxon (XOM), FuboTV (FUBO), Wendy’s (WEN)

Economic data: Nonfarm payrolls (April); Unemployment rate (April); Average hourly & weekly earnings (April); Labor force participation rate (April)

Here are some of the biggest stories you may have missed overnight and early this morning:

Jobs report on deck: What to expect in tariff-roiled month

The AI revolution is an advertising revolution

More Americans are claiming Social Security early. Here’s why.

China says ‘door is open’ to trade talks with the US

As Trump moves to tax small parcels, some retailers give up on US

Apple stock falls after warning of $900 million tariff hit

Bond traders bet on tariff-led jobs slowdown

Apple to source 19 billion US-made chips in supply chain shift

Amazon slides as key forecast spooks investors

Tesla’s sales in key European markets plunge in April
Reddit (RDDT) is betting that growth in digital ad spending will drive strong revenue in the second quarter, putting out a forecast that topped Wall Street estimates on Thursday.

Shares in the social media company surged 20% in extended trading soon after its earnings report. But they pared gains in Friday’s premarket, trading about 7% higher, after Reddit’s CEO warned about a potential Google (GOOG, GOOGL)-related impact.

Reuters reports:

Read more here.
Asian markets saw gains overnight Thursday following announcements from the Chinese Commerce Ministry that the country is seriously evaluating overturning tariffs in negotiations with the US. The news comes as the first step toward breaking the economic stalemate that has developed between the two countries and shaken the global economy.

AP Finance reports:

Read more here.
Gold (GC=F) is heading for consecutive weekly losses for the first time in 2025 after a record-breaking run for the commodity. The haven asset touched $3,500 last week before starting a sharp decline as tech earnings have pulled investors back into the stock market despite recent trade war-induced volatility.

Bloomberg reports:

Read more here.

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