Market Resurgence: Wall Street Soars Amid Strong Jobs Data

Wall Street experienced a rebound as strong job growth and a rally in Tesla shares drove U.S. stock indexes higher, while rising Treasury yields reflected positive economic data. Market sentiments buoyed due to an upbeat employment report and renewed trade talks between Trump and Xi invigorated market optimism.

Wall Street mounted a significant rebound Friday, propelled by strong employment figures and a notable surge in Tesla shares, setting the major U.S. stock indexes for weekly gains. Bitcoin also took a leap as crude prices reached their highest point since April, signaling a widespread market uplift.

The Labor Department announced that the U.S. added 139,000 jobs in May, surpassing forecasts, while maintaining an unemployment rate of 4.2%. The promising wage growth data does not support a Federal Reserve rate cut soon, calming investor concerns over a potential economic downturn.

Tensions in global trade talks were eased as President Trump's negotiation efforts with China revived hopes of economic stability. Simultaneously, the dollar strengthened against global currencies, and crypto assets like bitcoin saw significant gains, further driving the optimistic market sentiment.

(With inputs from agencies.)