The New York Stock Exchange started higher on the 2nd (local time) influenced by positive employment indicators that exceeded expectations. It is analyzed that investment sentiment has also recovered as expectations grow that the trade conflict between the United States and China may ease somewhat.
On that day, the S&P 500 index, centered on large-cap stocks, rose 1.09% and recorded 5,665.38, while the tech-focused Nasdaq Composite index surged 173.76 points (0.98%) to reach 17,884.50. The Dow Jones Industrial Average, consisting of blue-chip stocks, also increased by 455.36 points (1.12%) to record 41,208.32.
On that day, the U.S. Department of Labor announced that non-farm jobs in April increased by 177,000 from the previous month, significantly exceeding experts' estimates. The unemployment rate for April was 4.2%, which was in line with market expectations.
As signs of easing trade tensions between the U.S. and China appear, it seems that investment sentiment has somewhat recovered. On that day, the U.S. Department of Commerce noted, "China is closely watching U.S. high-ranking officials' statements indicating a willingness to negotiate economic and trade matters, including tariffs." They added, "At the same time, the United States has conveyed its intention to engage in negotiations with China through various channels recently."