Stocks rise to pre-tariff levels after strong jobs report, but concerns over ongoing trade war

From Yahoo Finance: 2025-05-02 16:09:00

The stock market has recovered to pre-tariff levels set by President Trump, with the S&P 500 closing at 5,687 after a 1.5% gain. The Nasdaq and Dow Jones also rose 1.5% and 1.4% respectively, marking the ninth consecutive day of gains. The Bureau of Labor Statistics reported 177,000 jobs added in April, exceeding economist predictions. China’s openness to negotiation with the U.S. offers hope for progress on a trade deal. However, the U.S. GDP contracted by 0.3%, indicating economic uncertainty. Tech firms like Block and Apple are warning of potential financial damage from the ongoing trade war.



Read more at Yahoo Finance: Stocks climb back to ‘Liberation Day’ levels after surprise jobs report