US Non-farm Employment Data Surpasses Expectations, Driving Strong Rally in Stock Market

The US Bureau of Labor Statistics (BLS) reported on Friday that April's non-farm payrolls increased by 177,000, far exceeding the market's expectation of 138,000. The unemployment rate remained at 4.2%, consistent with March's level, aligning with market predictions. This news led to a broad rally across all four major US stock indices, with the Dow Jones Industrial Average surging over 500 points to rise by 1.24%. The Nasdaq and S&P 500 also increased by over 1%, while the Philadelphia Semiconductor Index jumped by 3%. TSMC's ADR saw a notable rise of 4.54%.
On Friday, the four major US stock indices all experienced gains, with the Dow reaching a high of 41,258.86 points, an increase of 505.9 points. The Nasdaq momentarily hit 17,945.20 points, rising by 1.32%. The S&P 500 hit a peak of 5,674.97 points, up 1.26%. The Philadelphia Semiconductor Index reached 4,389.45 points, marking a significant increase of 3.34%. The S&P 500 is on track to potentially set the longest consecutive positive streak in over 20 years.
Of the seven major tech giants, most saw gains, with Meta (META-US), Microsoft (MSFT-US), and NVIDIA (NVDA-US) rising over 3%. NVIDIA's stock price reached a high of $115.4, up 3.40%. Meanwhile, Apple (AAPL-US), Amazon (AMZN-US), and Tesla (TSLA-US) faced declines, with Apple dropping to a low of $202.16, down 5.23%.
Additionally, TSMC's ADR peaked at $180.56 during trading, marking a 4.54% increase.