Ammon News - Wall Street stocks advanced on Friday, notching the second straight week of gains, helped by strong economic data and potential easing of trade tensions between the U.S. and China.

The U.S. economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at 4.2%. The data helped to assuage concerns of a economic slowdown following a Commerce Department report, showing a contraction in U.S. gross domestic product for the first time in three years, weighed down by a tariff-induced flood of imports.

The S&P 500 also reached its ninth consecutive session of gains, matching a winning streak from 2004, while the Dow hit a nine-day winning streak for the first since December 2023. For the week, the S&P 500 gained 2.9%, the Dow climbed 3%, and the Nasdaq added 3.43%.

The Dow Jones Industrial Average rose 564.47 points, or 1.39%, to 41,317.43, the S&P 500 gained 82.54 points, or 1.47%, to 5,686.68 and the Nasdaq Composite gained 266.99 points, or 1.51%, to 17,977.73. Reuters