Stocks Gain on US Jobs Surprise as Treasuries Fall: Markets Wrap

(Bloomberg) — Wall Street traders drove stocks higher as data showed the US labor market is holding up despite concerns about risks stemming from President Donald Trump’s tariff war. Bonds fell. The dollar rose.

Just days ahead of the US payrolls report, an unexpected increase in job openings buoyed sentiment. Tech giants led the S&P 500’s bounce, with Nvidia Corp. up almost 3%. Energy shares joined a rally in oil. Earlier equity losses were driven by a cut in OECD’s growth forecasts as the institution said combative trade policies have tipped the world economy into a downturn.

Subscribe to the Stock Movers Podcast on Apple, Spotify and other Podcast Platforms.    

The rise in job openings reinforced the Federal Reserve’s assertion that the labor market is in a good place. While some economists fear a more notable weakening in coming months under the weight of tariffs, that hasn’t shown up in the data yet, supporting officials’ posture to keep rates steady.

“The higher-than-expected job openings number this morning is a good sign for the economy, as many were worried that the tariff uncertainty was weighing too heavily on businesses,” said Chris Zaccarelli at Northlight Asset Management.

The Office of the US Trade Representative has sent letters to trading partners to remind them of an upcoming deadline in negotiations, according to the White House. Commerce Secretary Howard Lutnick said he’s “very optimistic” about prospects for a deal between the US and India.

Corporate Highlights:

• Dollar General Corp. surged after increasing its annual guidance, helped by luring more higher-income shoppers looking for deals. The discount chain also said it expects to mitigate a significant amount of the tariffs currently in place.
• Broadcom Inc. began shipping a new version of its data center switch chips that can boost the efficiency of AI accelerators, aiming to take a bigger role in the booming market for artificial-intelligence computing.
• Surging demand for power to run artificial intelligence just prompted Meta Platforms Inc. to enter a 20-year contract with the biggest US nuclear operator, penning a deal that’s likely to be priced at a cheaper rate than a similar agreement rival Microsoft Corp. entered last year.
• Marriott International Inc. Chief Executive Officer Tony Capuano said consumers are still signing up for travel, but just waiting longer to book hotel rooms.
• Victoria’s Secret & Co. said a security incident that caused it to shut down its e-commerce site may hurt results for the current quarter.
• Signet Jewelers Ltd. raised its profit outlook for the full year and lifted the low end of its sales guidance, signaling confidence in the new chief executive’s overhaul strategy and consumers’ willingness to spend despite economic turbulence.
• Hims & Hers Health Inc. said it’s buying privately held telehealth company Zava as it looks to expand its footprint in Europe.

Some of the main moves in markets:

Stocks

• The S&P 500 rose 0.6% as of 4 p.m. New York time
• The Nasdaq 100 rose 0.8%
• The Dow Jones Industrial Average rose 0.5%
• The MSCI World Index rose 0.3%
• Bloomberg Magnificent 7 Total Return Index rose 0.2%
• The Russell 2000 Index rose 1.6%

Currencies

• The Bloomberg Dollar Spot Index rose 0.4%
• The euro fell 0.6% to $1.1369
• The British pound fell 0.2% to $1.3516
• The Japanese yen fell 1% to 144.07 per dollar

Cryptocurrencies

• Bitcoin rose 1.3% to $106,307.23
• Ether rose 3.4% to $2,626.12

Bonds

• The yield on 10-year Treasuries advanced two basis points to 4.46%
• Germany’s 10-year yield was little changed at 2.53%
• Britain’s 10-year yield declined three basis points to 4.64%

Commodities

• West Texas Intermediate crude rose 1.3% to $63.33 a barrel
• Spot gold fell 0.8% to $3,352.85 an ounce

©2025 Bloomberg L.P.