US stocks closed sharply higher, with the Dow posting its biggest one-day percentage gain since Jan. 6, as shares of Apple surged more than 4% after upbeat results and US jobs data pointed to a resilient labor market $AAPL
Traders work on the floor of the New York Stock Exchange in New York City, U.S., May 4, 2023. REUTERS/Brendan McDermidThe Dow and S&P 500 still registered losses for the week, however, while the Nasdaq ended with a slight gain for the week.
On Wednesday, the U.S. central bank raised rates by 25 basis points as expected, but Fed Chair Jerome Powell noted it was too early to say with certainty that the rate-hike cycle was over as inflation remains the chief concern.in first-quarter S&P 500 earnings has been getting smaller since the start of the reporting season and is now at just 0.7% year-over-year, Refinitiv data showed on Friday.Volume on U.S. exchanges was 10.57 billion shares, compared with the 10.
Advancing issues outnumbered declining ones on the NYSE by a 4.95-to-1 ratio; on Nasdaq, a 2.75-to-1 ratio favored advancers. The S&P 500 posted 13 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 87 new highs and 104 new lows.
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