Stocks in the US surged on Friday, fueled by a weaker-than-expected April jobs report, which pushed expectations for a Federal Reserve interest rate cut to September from November. The S&P 500 gained 1.2%, the Nasdaq advanced 2% and the Dow Jones closed 450 points higher. The US economy added 175K jobs in April, falling short of the estimated 243K and signaling a significant slowdown from March's addition of 315K jobs. Additionally, the unemployment rate ticked up to 3.9% while wages rose less than forecasts. Apple rallied nearly 6% after announcing a $110 billion share buyback and reporting better-than-expected earnings and revenue. Amgen also surged 11.8% on an earnings and revenue beat, to book its best day in nearly 15 years, while Cloudflare tumbled 16.4% after issuing weak revenue guidance for the full year. On the week, the Dow added 0.9%, while the S&P 500 gained 0.3% and the Nasdaq climbed by 1.2%.
The main stock market index in the United States (US500) increased 358 points or 7.50% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from United States. Historically, the United States Stock Market Index reached an all time high of 5268 in March of 2024. United States Stock Market Index - data, forecasts, historical chart - was last updated on May 4 of 2024.
The main stock market index in the United States (US500) increased 358 points or 7.50% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from United States. The United States Stock Market Index is expected to trade at 4951.34 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4762.24 in 12 months time.