Stock Markets Soar Amidst Trade Tension Easing and Strong Economic Data

U.S. stock markets advanced for the second week, driven by strong economic data and easing trade tensions with China. The U.S. job growth exceeded expectations, and President Trump's tariff reversals lifted market sentiments. Despite some corporate setbacks, indices like S&P 500 and Nasdaq saw significant gains.

On Friday, U.S. stocks rose as investors were buoyed by strong economic data and signals of eased trade tensions between the U.S. and China. The economy outperformed expectations with 177,000 jobs added in April, keeping the unemployment rate at 4.2%, which alleviated fears of a slowdown.

Chief market strategist Talley Leger remarked on the market's optimistic reaction to the job figures, despite slower growth than expected. He noted that the tariffs announced earlier by President Trump had not impacted job creation as severely as anticipated.

The announcement from Beijing about considering talks on tariffs with the U.S. added to positive market sentiment. Stock indices like the S&P 500 and Nasdaq erased prior losses, with the Dow charting a significant upward trend. However, Apple's reduction in its buyback program led to a drop in its shares.

(With inputs from agencies.)