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The Dow Jones is poppin today - we know what we need to see

S&P 500 has recovered back to the levels before ‘Liberation Day’, and is on track for nine consecutive days of gains. Stock indices are continuing their upward momentum, as traders reassess their recession expectations. On Friday, May 5, the Dow Jones Industrial Average was trading at 41,354.53, up 601.57 points or 1.48% from market open. The tech-heavy Nasdaq was up 1.56% or 277.15 points, trading at 17,987.89. At the same time, the S&P 500 rose 1.47% to 5,686.80, continuing its winning streak. If the S&P 500 closes higher today, it would register nine days of consecutive gains, the biggest streak since November 2004. The main catalyst for today’s rally was better-than-expected job figures. U.S. non-farm payrolls were up 177,000 in April , compared to the 133,000 DOW Jones estimate. While this is still lower than the March gain of 228,000, it still helped ease the fears of a U.S. recession. Both the S&P 500 and the DOW Jones have closed consistently higher every day since April 21. Easing trade tensions, with more dovish signals from the White House on tariffs, boosted confidence in the U.S. market. Strong markets also boosted Bitcoin (BTC) , which went from $87,333 to $97,382 during that same period. At the same time, traders ditched gold, which went from $3,400 per ounce on April 21 to its current level of $3,237. Easing trade tensions helped the S&P 500 and the Nasdaq recover to the levels they were on April 2, or “Liberation Day”. That was when Donald Trump announced his sweeping tariffs on major U.S. trading partners, causing the markets and the U.S. dollar to nosedive. Still, the indices are far from their all-time highs in November, which were spurred by the hopes of a pro-business Trump presidency. What is more, the DOW Jones, representing the 30 biggest companies in the U.S., has yet to recover to its April 2 level.

U.S. stocks climbed on Thursday, led by the Nasdaq, as upbeat earnings from Microsoft and Meta reassured investors who were wary of the economic impact of President Trump’s escalating trade war with China. The Nasdaq Composite index closed near session lows but was still up 1.52% on the day, bolstered by a 7.6% gain in Microsoft shares and a 4.2% rise in Meta. Both companies posted stronger-than-expected quarterly profits late Wednesday, alleviating concerns that tariffs and global uncertainty could drag down Big Tech’s AI, cloud, and ad revenues. The S&P 500 also gave up a lot of gains but still edged higher by 0.63% 1.1%, while the Dow Jones Industrial Average added 0.21%, notching its longest winning streak of the year. Markets broadly reacted positively despite signs of slowing growth. Weekly jobless claims rose to a two-month high, and U.S. GDP contracted in Q1, increasing expectations for a weaker labor market ahead of Friday’s jobs report. Investors are now watching for earnings from Apple and Amazon, which report after the close. Both companies face headwinds from the White House’s trade policies. Amazon recently assured it wouldn’t pass on tariff costs to consumers, while Apple is pushing to move iPhone production away from China. Meanwhile, McDonald’s cited weaker consumer demand and tariff-related pressure in its Q1 miss, with U.S. sales slipping and shares falling 2%. On the geopolitical front, Beijing has indicated that Washington may be seeking to restart trade talks, although the Trump administration insists that China must act first. A fresh round of trade deals could be imminent, according to White House sources.

U.S. stocks opened higher, with technology stocks performing strongly ( At the opening of the US stock market, the Dow Jones Industrial Average rose 0.51%, the S&P 500 rose 1.02%, and the Nasdaq rose 2%, driven by the cooling of the trade situation and the better-than-expected earnings of technology stocks. Microsoft (MSFT.O) rose 10%, and Meta Platforms (META.O) rose 7.25%, and its Q1 performance both exceeded expectations. The Nasdaq China Golden Dragon Index rose 0.43%. (Jinshi)

Bloomberg's seven-stock index fell 2.7% as U.S. stocks opened sharply lower The US GDP unexpectedly shrank in the first quarter, and US stocks opened sharply lower, with the Dow Jones Industrial Average down 0.59%, the S&P 500 down 1.25%, and the Nasdaq down 2.07%. Large technology stocks plummeted, with Tesla (TSLA.O) down 4.3%, Nvidia (NVDA.O) down 4.4%, Apple (AAPL.O) down 1.04%, and the Bloomberg US Seven Index down 2.7%. (Jinshi)