Stocks rose on strong labor market data, tech and chip stocks rallied, gold and silver soared.

From Nasdaq: 2024-04-05 18:10:44

Stocks rose Friday across major indexes, with the S&P 500 up +1.11%, Dow Jones up +0.80%, and Nasdaq 100 up +1.28%. The US Mar nonfarm payrolls report showed a rise of +303,000, surpassing expectations, leading to higher T-note yields. Fed officials suggest no rate cuts soon due to inflation concerns and possible escalation. Tech and chip stocks rallied, led by Nvidia, AMD, and others. Gold and silver stocks soared, including Newmont. Uber, Western Digital, and Arch Capital also saw gains. Paramount Global and Lamb Weston ended lower, while CCC Intelligent Solutions announced a secondary stock offering. Earnings reports expected for EGRX and WALD on 4/8/2024.



Read more at Nasdaq: Stocks Settle Higher as a Strong US Labor Market Powers the Economy