From Investing.com: 2024-05-03 16:28:47

The S&P 500 surged on Friday as Apple led a tech rally, despite disappointing job gains in April, raising hopes for potential interest rate cuts by the Federal Reserve. Treasury yields fell as the U.S. economy added only 175,000 jobs in April, with the unemployment rate rising to 3.9%. Apple’s strong earnings and stock buyback announcement boosted tech sector. However, Block shares slipped after earnings beat and Amgen surged on confidence over a weight-loss drug. Crypto stocks mostly rose except for Coinbase which fell, despite positive quarterly results. Bitcoin rally lifted most crypto-related stocks.



Read more at Investing.com: S&P 500 ends higher as weaker jobs data boost rate cut hopes By Investing.com