On May 2, U.S. stock indices surged, driven by robust employment data and hopes for easing trade tensions between the U.S. and China. The Dow Jones Industrial Average increased by 1.39%, closing at 41,317.43 points, the highest since April 2. The Nasdaq Composite gained 1.51%, closing at 17,977.73 points, while the S&P 500 rose by 1.47%, settling at 5,686.67 points. The Philadelphia Semiconductor Index also jumped 3.52% to end at 4,397.05 points, marking a high since March 27.

According to the U.S. Labor Department, non-farm payrolls increased by 177,000 in April, slightly below March's 185,000 but significantly above the projected 133,000. The unemployment rate remained stable at 4.2%, indicating a solid labor market.

Moreover, there are renewed hopes for trade negotiations concerning fentanyl between the two countries, which further bolstered market optimism. Apple Inc. lowered its share buyback plan by $10 billion, leading to a 3.74% drop in its stock price. Conversely, Nvidia Corp. experienced a 2.59% rise in its share price.