S&P 500 Gains 1%; April Jobs Top Expectations

Benzinga
02 May

U.S. stocks traded higher this morning, with the S&P 500 gaining over 1% on Friday.

Following the market opening Friday, the Dow traded up 0.91% to 41,121.95 while the NASDAQ climbed 1.11% to 17,906.97. The S&P 500 also rose, gaining, 1.06% to 5,663.28.

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Leading and Lagging SectorsIndustrials shares rose by 1.6% on Friday.

In trading on Friday, energy stocks dipped by 0.3%.

Top Headline

Nonfarm payrolls increased by 177,000 last month, slightly down from a downwardly revised 185,000 in March, according to data released Friday by the Bureau of Labor Statistics.

The outcome surpassed both economist forecasts for a 130,000 gain and betting markets – tracked by CFTC-regulated platform Kalshi – which had priced in a 90,000 increase. The unemployment rate remained unchanged at 4.2%, as expected.

Equities Trading UP                       

  • Polyrizon Ltd. (NASDAQ:PLRZ) shares shot up 286% to $0.9725. The company recently reported successful safety study of a formulation of PL-14 allergy blocker in human nasal tissue model.
  • Shares of Freight Technologies, Inc. (NASDAQ:FRGT)got a boost, surging 142% to $2.3750 on continued strength after the company on Thursday announced it entered into an agreement for the issuance of convertible notes through a facility of up to $20 million. Capital from the financing will be earmarked for purchasing Official Trump Tokens.
  • Impact BioMedical Inc. (NYSE:IBO) shares were also up, gaining 103% to $0.8122.

Equities Trading DOWN

  • Pineapple Financial Inc. (NYSE:PAPL) shares dropped 42% to $0.1150 after the company announced a $1.5 million public offering.
  • Shares of E-Home Household Service Holdings Limited (NASDAQ:EJH) were down 42% to $0.1733.
  • Draganfly Inc. (NASDAQ:DPRO) was down, falling 40% to $1.77 after the company priced a $3.6M underwritten public offering at $2.10 per unit

CommoditiesIn commodity news, oil traded down 2.5% to $57.79 while gold traded up 1% at $3,253.10.

Silver traded down 0.3% to $32.360 on Friday, while copper rose 1% to $4.6735.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.3%, Spain's IBEX 35 Index gained 0.6% while London's FTSE 100 rose 1%. Germany's DAX 40 rose 2.1% and France's CAC 40 added 1.9% during the session.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan's Nikkei gaining 1.04%, Hong Kong's Hang Seng Index surging 1.74% and India's BSE Sensex rising 0.32%.

Economics

  • Nonfarm payrolls increased by 177,000 last month, slightly down from a downwardly revised 185,000 in March, according to data released Friday by the Bureau of Labor Statistics. The outcome surpassed both economist forecasts for a 130,000 gain and betting markets – tracked by CFTC-regulated platform Kalshi – which had priced in a 90,000 increase.
  • The unemployment rate remained unchanged at 4.2%, as expected.
  • New order for U.S. manufactured goods rose by 4.3% to $618.8 billion in March.

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Photo via Shutterstock

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