US stocks climb as investors cheer strong Apple earnings and assess big April jobs report
US jobs report
outstripped expectations. Nonfarm payroll employment soared by 253,000 in April compared with a 180,000 estimate. The unemployment rate fell to 3.4%. "A strong job market will boost earnings and household spending capacity, which is good for the housing market and broader economy. However, a too-strong market means the Fed has to tighten further, dampening that good news and running a higher risk of over-tightening," Danielle Hale, chief economist at Realtor.com, wrote in a note.Here's where US indexes stood at the 9:30 a.m.
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