Stocks Rally On Trade Talk Optimism – Europe Market Wrap
US stocks are set to keep powering ahead, with the S&P 500 on the verge of notching its longest winning streak since 2004, after China hinted at the possibility of trade talks.
Futures on the stock index were up 0.5% on Friday, putting the index on track for a ninth day of gains. Europe enjoyed even bigger gains as the Stoxx 600 Index jumped more than 1%. The dollar weakened and Treasuries were little changed before the US payrolls report, which will likely show that employment growth slowed and the jobless rate held steady.
Apple slid 2.9% in early trading as it reported falling China sales and warned that tariffs will increase costs. Amazon slid 1.5%. It’s bracing for a tougher business climate and gave a weaker-than- expected outlook for operating income.
Economists expect the jobs report to show only 135,000 new positions added in April after the data blew away expectations in March. The surveys behind the report were conducted the second week of April, when Trump put some levies on hold and sharply raised those on China goods.
