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Stocks Extend Winning Streak After Solid Jobs Report, Trade Optimism: Closing Bell
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May 2, 2025
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10:32Now PlayingUS stocks tallied a second week of gains, with the S&P 500 Index powering through its longest winning streak in more than 20 years and wiping out all losses from April’s tariff turbulence as strong jobs data and progress on international trade talks unleashed a wave of buying.
The S&P 500 rose 1.5%, topping levels it reached on April 2, just before US President Donald Trump triggered a market rout by unveiling sweeping tariffs against major trading partners. The Nasdaq 100 rose 1.6% — bringing its rebound from April lows to 18%, on the cusp of a bull market — while the Dow Jones Industrial Average added 1.4%.
It was a day for superlatives. Friday’s gain in the S&P 500 was the biggest following a jobs-report release in two years, and its 10% nine-day rise marks the longest conseuctive climb since 2004. Of the 31 prior cases when the gauge had such a sustained advance, none had a rally this big. The index is also up some 14% from the April 8 bottom that pushed it to the brink of a bear market.
Even as stocks climbed, US bonds tumbled as traders scaled back bets on Federal Reserve interest-rate cuts, while the dollar weakened.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Scarlet Fu, Carol Massar and Emily Graffeo.
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