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Wall Street opens higher following stronger-than-expected report on US job market
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....all Street opens higher following stronger-than-expected report on US job market<BR>PTI News<BR>Dated:- 2-5-2025<BR>PTI<BR>New York, May 2 (AP) Stocks are opening higher on Wall Street following a stronger-than-expected report on the US job market. The S&P 500 climbed 1 per cent in early trading Friday, putting the index on track for a ninth straight day of gains. The Dow Jones Industrial Aver....
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....age added 447 points, or 1.1 per cent, and the Nasdaq composite was up 0.9 per cent. Employers added 1,77,000 jobs in April, more than forecast. However the latest job figures don't yet reflect the effects on the economy of President Donald Trump's across-the-board tariffs against America's trading partners. Treasury yields rose in the bond market. Earlier, experts said Wall Street was poised ....
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....to open with gains Friday after China's Commerce Ministry said Beijing is evaluating overtures from the US regarding President Donald Trump's tariffs. Exxon Mobil's reported its lowest first-quarter profit in years, stung by weaker crude prices and higher costs. Its shares ticked up less than 1 per cent before markets opened Friday. Shares in rival Chevron fell more than 2 per cent after it al....
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....so reported its smallest first quarter profit in years. A barrel of US benchmark crude fell below USD 60 this week, a level at which many producers can no longer turn a profit. On Friday, a barrel of US crude fell another 66 cents to USD 58.58. Brent crude, the European standard, declined 64 cents to USD 61.49 per barrel. Energy prices mostly have been in decline since Trump's inauguration i....
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....n January, with the cost of a barrel of oil sliding as much as USD 20. At this time last year, a barrel of US crude cost USD 78. Uncertainty about the impact of Trump's on-again-off-again tariff announcements has consumers and businesses feeling anxious about the future. Rapidly falling oil prices signal pessimism about economic growth and can be a harbinger of a recession as manufacturers cut p....
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....roduction, businesses cut travel costs and families rethink vacation plans. Late Thursday, technology behemoths Amazon and Apple reported their latest results. Shares of Apple fell about 3 per cent overnight after the iPhone company beat Wall Street expectations but forecast an additional USD 900 million to its costs in the current quarter as a result of the tariffs, if they remain in place as a....
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....nnounced. Amazon shares fell close to 1 per cent after the online retailer reported better-than-expected results but also said that tariffs were clouding its near-term forecast. Friday the government released its April jobs report showing that American employers added a better-than-expected 1,77,000 jobs. Economists expected the US Labour Department to report that employers added 1,35,000 jo....
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....bs last month. That's a healthy number, but it would be down sharply from the surprisingly strong 2,28,000 jobs added in March. Many economists worry the job market could deteriorate with Trump's massive taxes on imports to the US likely to raise costs for Americans and American businesses, which could result in slower economic growth. However, hopes that Trump may eventually roll back some of....
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.... his tariffs after reaching trade deals with other countries has helped to support markets this week. On Thursday, the S&P 500 rose 0.6 per cent for an eighth straight gain, its longest winning streak since August. In Europe at midday, Germany's DAX advanced 1.5 per cent, the CAC 40 in Paris climbed 1.3 per cent and Britain's FTSE 100 was 0.7 per cent. In Asian trading, Hong Kong's Hang Seng s....
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....urged 1.7 per cent to 22,504.68 while markets in Shanghai were closed for a public holiday. Taiwan's benchmark jumped 2.7 per cent. An unnamed Chinese Commerce Ministry spokesperson was cited as saying that Beijing had taken note of various statements by senior US officials indicating a willingness to negotiate over tariffs. “At the same time, the US has recently taken the initiative to conv....
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....ey information to the Chinese side on a number of occasions through relevant parties, hoping to talk with the Chinese side. In this regard, the Chinese side is making an assessment,” it said. Tokyo's Nikkei 225 picked up 1 per cent to 36,830.69. Japanese Finance Minister Katsunobu Kato drew attention by mentioning that the country's more than USD 1.1 trillion in US Treasury bonds could poten....
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....tially be a “card on the table” in negotiations with Washington over Trump's steep tariffs on autos and other imports. Elsewhere in Asia, South Korea's Kospi rose 0.1 per cent to 2,558.84 and Australia's S&P/ASX 200 added 1.1 per cent, closing at 8,238.00. (AP) NPK NPK<BR> News - Press release - PIB....