New York Stock Exchange Closes Higher... S&P Recovers to Pre-Tariff Levels [New York Stock Exchange Briefing]

The New York Stock Exchange closed with gains. This was due to the strong increase in U.S. jobs last month despite the tariff policies of the Donald Trump administration.

On the 2nd (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 564.47 points (1.39%) to 41,317.43. The Standard & Poor's (S&P) 500 index rose 82.54 points (1.47%) to 5686.68, and the Nasdaq Composite rose 266.99 points (1.51%) to 17,977.73.

The Dow and S&P 500 indices rose for the ninth consecutive trading day. The S&P 500 index's nine-day consecutive rise is the first in about 20 years since November 2004. The S&P 500 index recovered to the level just before the New York Stock Exchange's sharp decline due to President Trump's reciprocal tariff announcement (closing price on April 2, 5,670.97).

The increase in employment in April exceeded market expectations. The U.S. Department of Labor announced that U.S. non-farm jobs increased by 177,000 in April compared to the previous month. Despite concerns that the Trump administration's tariff policy would lead to a recession, it exceeded expert forecasts as well as the recent 12-month average increase (152,000), alleviating recession concerns.

Expectations that U.S.-China tariff negotiations will progress also positively affected the indices.

A spokesperson for China's Ministry of Commerce confirmed that they are "evaluating" the U.S.'s message of hope for dialogue, leaving open the possibility of tariff negotiations. However, the spokesperson emphasized, "If the U.S. wants to talk, they must show sincerity by correcting wrong practices and withdrawing unilateral tariffs."

Apple ended its eight-day rise, falling 3.74% on concerns that the tariff policy could result in additional costs exceeding 1 trillion won. During the day, Apple's decline exceeded 5%, temporarily losing its top market cap position to Microsoft (2.32%). Major big tech companies like Nvidia (2.59%), Meta (4.34%), Alphabet (1.69%), and Tesla (2.38%) showed strength.

Block, a payment service company founded by former Twitter co-founder Jack Dorsey, plummeted 20.4% due to the impact of a downward revision in earnings forecasts.

Reporter Lee Song-ryeol, Hankyung.com yisr0203@hankyung.com