The S&P 500 closed higher for the eighth straight session Friday, marking its longest winning streak in over two decades. This surge comes after stocks plunged on April 24—dubbed ‘Liberation Day’—when markets reeled from mixed earnings and geopolitical worries.

The Dow Jones climbed 564 points (+1.39%), the S&P 500 gained 1.47%, and the Nasdaq advanced 1.51%, marking the Dow and S&P 500’s first nine-day win streak in years.

The rally was powered by better-than-expected U.S. jobs data, with 177,000 jobs added in April, beating forecasts of 135,000.

Key drivers behind the rally:

  • Easing tensions in the U.S.-China trade dispute as China signaled openness to talks.
  • A Wall Street Journal report on China addressing U.S. concerns over fentanyl.
  • Strong earnings from Meta (+4.3%), Microsoft (+2.3%), though Apple fell (-3.74%) on tariff concerns.

Analyst insights:

  • Chris Zaccarelli, Northlight Asset Management: “Markets breathed a sigh of relief as the jobs data came in better than expected.”
  • David Russell, TradeStation: “These numbers show leaders have breathing room to avoid a recession if they resolve trade issues.”
  • Matt Stucky, Northwestern Mutual: “Investors are less concerned now, but policy uncertainty still looms large.”

Federal Reserve outlook:

  • Strong jobs data lowered expectations of a June Fed rate cut (down to 36.6% from 55%).
  • Barclays and Goldman Sachs pushed their rate cut forecasts to July.
  • Trump continued pressuring the Fed on social media: “NO INFLATION, THE FED SHOULD LOWER ITS RATE!!!”

Global and sector highlights:

  • Europe’s Stoxx 600 +1.67% | Germany’s DAX +2.62% | Japan’s Nikkei +1.04% | Hong Kong’s Hang Seng +1.74%
  • 10-year U.S. Treasury yield rose above 4.3%, U.S. dollar index fell 0.3%.

If the S&P 500 closes higher Monday, it would mark the first 10-day winning streak since the 1990s, according to S&P’s Howard Silverblatt. Traders will stay focused on upcoming trade talks, Fed policy, and economic data.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Related:

Airbnb Q1 2025 Earnings Preview and Prediction: What to Expect

What Analysts Think of MicroStrategy Stock Ahead of Earnings?

What Analysts Think of BigBear.ai Stock Ahead of Earnings?

What Analysts Think of Amazon Stock Ahead of Earnings?

Apple Q2 2025 Earnings Preview and Prediction: What to Expect

Eli Lilly Q1 2025 Earnings Preview and Prediction: What to Expect

UK-US trade talks ‘moving in a very positive way’, says White House

Trump Eases Auto Tariffs to Avoid Industry Meltdown

Trump Administration Lays Out Roadmap to Streamline Tariff Talks

Trump Pushes Plan to Replace Income Taxes with Tariffs: “A Bonanza for America!”

California Overtakes Japan to Become Fourth Largest Economy in World