Wall Street won the longest win in US stocks in US stocks in 20 years after President Donald Trump imposed tariffs around the world a month ago.
The stock price has gained profits for the first time since 2004 for the first time since 2004 after the hope for a better job report and the US-Chaina Trade Talks.
S & P 500 and NASDAQ have increased all major US indexes when the market closed on Friday. Dow Jones Industrial Average increased 1.4%.
In the technology sector, Microsoft and NVIDIA have gained the most with more than 2%increase.
The Ministry of Labor said on Friday that US employers added 177,000 new jobs in April.
The report surpassed the analyst’s predictions, but the monthly employment was still slow. Meanwhile, the unemployment rate remained steadily at 4.2%.
Another sign of encouragement to investors was the announcement of Beijing on Friday and announced that Washington is considering a proposal to hold trade negotiations with the United States.
At 145%, China is facing the highest income tax so far.
For some analysts, job levels broke down the fear of recession this week, showing contraction in the US economy for the first time in three years.
Carl Weinberg, the chief economist of high frequency economics, said, “There is nothing to complain about it.”
“You can’t find evidence of the initial recession in this figure.”
Seema Shah, a global strategist at Principal Asset Management, also saw the cause of optimism.
“The economy will weaken in the next few months, but this fundamental momentum is likely to avoid the economic downturn if the United States can go back to the tariff crisis,” she said.
But other experts said it would take time to see Trump’s overall effects.
The job report is a strong but FITCH -based US economy research officer, OLU SONOLA, told the BBC on Friday.
