Wall Street has clawed back losses incurred after President Donald Trump imposed global tariffs a month ago, capping the longest winning streak in two decades for US stocks.
Shares saw gains for the ninth day in a row for the first time since 2004 after a better-than-expected jobs report and rising hope of US-China trade talks.
Major US indexes were all up when the market closed on Friday – the S&P 500 and Nasdaq had both risen 1.5% while the Dow Jones Industrial Average increased 1.4%.
The tech sector made the biggest gains, with Microsoft and Nvidia growing by more than 2%.
It came as the Department of Labor said on Friday that US employers had added 177,000 new jobs in April.
The report outpaced analysts’ predictions, although it was still a slowdown in hiring from the month beforehand. Meanwhile, the unemployment rate held steady at 4.2%.
Another sign of encouragement for investors was Beijing’s announcement on Friday that it was…
