The U.S. April non-farm payroll data exceeded expectations, and the prospect of U.S.-China tariff negotiations improved investor sentiment, resulting in gains across major U.S. stock indexes on May 2. The Dow Jones Industrial Average rose by 564.47 points, closing at 41317.43.

According to reports, U.S. non-farm employment opportunities increased by 177,000 in April, surpassing economists’ expectations of 133,000. While this figure is a decline from March’s 228,000, it is markedly better than what had been feared amid recession concerns. Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management, stated that the favorable employment data provided relief to the market, and while concerns about a recession still linger, the momentum for buying on dips might continue until the expiration of the tariff pause.

Despite the optimism surrounding the strong non-farm employment report, Chinese officials reiterated their position that all unilateral tariffs should be lifted, emphasizing that if the U.S. truly wants to negotiate, it should show sincerity and be prepared to correct its mistakes.