Wall Street closed in green this Friday and its main indicator, the Dow Jones Industrial Average, rose 1.18% after the US April employment report was released.
At the close of the session, the Dow Jones stood at 38,675 points; The S&P 500 gained 1.26%, up to 5,127 units, and the Nasdaq added a notable 1.99%, up to 16,156 points.
The latest labor market data was weaker than expected and, paradoxically, was well received in the market due to its potential influence on monetary policy.
The unemployment rate rose to 3.9%, one tenth more than in March; 175,000 new jobs were created, fewer than expected, and wages rose less than feared.
“The bad news for the labor market means the Fed could start cutting (rates) later this year,” Emily Roland, head of John Hancock Investment Management, told CNBC.
At the corporate level, pharmaceutical company Amgen soared 11.8% after announcing promising data for an injectable anti-obesity drug at a time of high demand for products such as Ozempic.
For its part, Apple rose almost 6% after announcing this Thursday its largest share buyback to date, worth $ 110 billion, and a dividend increase that overshadowed the results.
By sector, the greatest gains were for technology companies (3%) and communications companies (1%).
Among the 30 listed companies in the Dow Jones, apart from Amgen and Apple, Home Depot and Microsoft advanced (2.2%, both).
Texas oil closed at $78.11 per barrel and, at the close of trading, 10-year treasury bonds fell to 4.5%, gold rose to $2,310 per ounce and the euro exchanged at 1, 0766 dollars.
