Stocks jump after jobs data, Apple’s buyback: LIVE MARKET UPDATES
Investors celebrated the latest jobs report which may push the Federal Reserve to cut interest rates sooner rather than later and Apple's stock buyback wows Wall Street. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Investors embraced the weaker-than-expected jobs data for April on the hopes it might be enough for the Federal Reserve to cut interest rates sooner-than-expected.
The Dow Jones Industrial Average surged by over 400 points or more than 1% following the April jobs report which may allow the Federal Reserve to cut interest rates.
Amgen, Apple and Microsoft are leading the gains, while McDonald's, Chevron and J&J are laggards.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| AMGN | $312.97 | 34.58 | 12.42 |
| AAPL | $185.06 | 12.03 | 6.95 |
| MCD | $270.24 | -3.04 | -1.11 |
| CVX | $158.84 | -1.90 | -1.18 |
| JNJ | $149.03 | -0.89 | -0.59 |
The Nasdaq Composite gained 2% and the S&P 500 over 1.3%.
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In a surprise move, Apple announced a record $110 billion buyback and quarterly results that were not as bad as investors had speculated.
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