Wall Street Gains Amid Trade Relief and Robust Economic Data

Wall Street gained for the second consecutive week, boosted by strong job data and easing trade tensions between the U.S. and China. Despite initial concerns over a GDP contraction, positive job reports alleviated fears. Trump’s tariff reversals aided stock recoveries, with major indices experiencing significant growth.

Wall Street recorded its second consecutive week of gains, buoyed by strong economic indicators and potential easing of U.S.-China trade tensions. The U.S. economy added 177,000 jobs in April, surpassing expectations and stabilizing the unemployment rate at 4.2%, which helped to calm fears of an economic slowdown.

Market strategist Talley Leger noted the market's positive reaction to the payroll report, despite slower job growth. Beijing is considering talks with Washington to address President Trump's 145% tariffs on Chinese imports, a critical development as trade tensions keep investors on alert.

The U.S. stock market has seen a rebound, notably with the tech-heavy Nasdaq reaching pre-April 2 levels. Major indices showed gains, demonstrating resilience amidst trade conflicts. However, companies like Apple and Block faced challenges adjusting to tariff impacts and missed earnings estimates.

(With inputs from agencies.)