S&P 500 Jumps 1.5%, Dow Up 564 Points as Wall Street Posts Longest Win Streak Since 2004 Amid China Tariffs

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Updated May 3, 2025, 01:42 AM

Wall Street extended its gains for a ninth consecutive day on Friday, marking the longest winning streak for U.S. stocks since 2004. The S&P 500 rose 1.5% to close at 5,686.67, the Dow Jones Industrial Average gained 1.4% or 564.47 points to 41,317.43, and the Nasdaq Composite increased 1.5% to 17,977.73. The Russell 2000 surged by 2.25%. $SPY and $QQQ each rose 1.48%, while $DIA added 1.38%. Trading volume on the S&P 500 reached 2.966 billion shares.

The rally was driven by a better-than-expected U.S. jobs report, which showed that employers added 177,000 jobs in April, surpassing economists' forecasts of 135,000. The unemployment rate held steady at 4.2%.

China signaled openness to trade talks with the United States after President Donald Trump's sweeping tariff announcement on April 2, which imposed tariffs of up to 145% on Chinese imports. The S&P 500's gains have now erased losses incurred since the tariffs were announced.

Technology and financial stocks led gains, with Microsoft rising 2.3% and Nvidia climbing 2.5%. Apple shares fell 3.7% after the company estimated a $900 million cost from tariffs. JPMorgan Chase rose 2.3% and Visa gained 1.5%.

Despite the recent rally, the S&P 500 remains down 3.3% for the year and 7.4% below its February record high. The U.S. economy contracted at a 0.3% annual pace in the first quarter, reflecting ongoing uncertainty related to tariffs and trade policy.

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#Wall Street #Dow Jones Industrial Average #Nasdaq Composite #Russell 2000 #China #United States #Donald Trump #Chinese #Microsoft #Nvidia #Apple #JPMorgan Chase #Visa

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Sources

reuters.com(2)cn.wsj.com www1.folha.uol.com.br pbs.org

Markets Today

@marketsday

#Dow jumps 500 points, S&P 500 posts longest win streak in 20 years as stocks claw back tariff losses

Markets Today

@marketsday

02-5-2025: Dow Jones, S&P 500 and Nasdaq Make Major Gains The benchmark S&P 500 (^GSPC) jumped 82.53 points, or 1.47 percent, to close at 5,686.67, with trading volume reaching 2.966 billion shares. The rally was broad-based, with technology and financial sectors leading the

Markets Today

@marketsday

S&P 500 closed its 9th consecutive day of gains - a 20-year record! $SPY jumped by 1.48% $QQQ rose by 1.48% $DIA added 1.38% $IWM surged by 2.25% #SP500 #NASDAQ #DowJones #Russell2000