Dow gains 318 points, Nasdaq rebounds with jobs data Friday

Employers are expected to have hired 988,000 workers last month

In what was a choppy session, U.S. stocks pulled out a hat trick after jobless claims fell to a record low and the earnings calendar rolled on

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33290.08 -533.37 -1.58%
HD THE HOME DEPOT, INC. 302.61 -0.51 -0.17%

The Dow Jones Industrial Average ticked up 318 points to a fresh record, Home Depot among the leaders.

The Nasdaq Composite rebounded rising 0.37% helped by Microsoft and Apple. 

Ticker Security Last Change Change %
I:COMP NASDAQ COMPOSITE INDEX 14030.375849 -130.97 -0.92%
MSFT MICROSOFT CORP. 259.43 -1.47 -0.56%
AAPL APPLE, INC. 130.46 -1.33 -1.01%

While the S&P 500 rose 0.8% led by financials. 

Ticker Security Last Change Change %
SP500 S&P 500 4166.45 -55.41 -1.31%
XLF FINANCIAL SELECT SECTOR SPDR ETF 35.23 -0.87 -2.41%

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The Labor Department reported new claims for unemployment benefits fell to 498,000, a fresh pandemic low after 553,000 the prior week. This follows solid gains reported by ADP on Wednesday. 

The report is a positive pre-cursor ahead of Friday's jobs report for April. Economists expect the data to show employers hired 988,000 workers last month as the economy accelerated out of the pandemic and vaccines rolled out nationwide. The unemployment rate is expected to drop to 5.8%. 

PELOTON PUNISHED ON RECALL, ERASES $4B IN VALUE

As for stocks on the move…

Peloton shares, which lost $4 billion in value following the company's recall of all its treadmills following the death of a child, are in focus ahead of earnings after the closing bell. 

Ticker Security Last Change Change %
PTON PELOTON INTERACTIVE, INC. 109.12 +0.31 +0.28%

In healthcare, Moderna posted its first profit in the company's history while revenue hit $1.9 billion, missing analyst expectations. 

Ticker Security Last Change Change %
MRNA MODERNA, INC. 199.19 -3.28 -1.62%

"In the first quarter, the Moderna team delivered on its supply commitments to many governments and helped protect more than 100 million people," said Stéphane Bancel, Chief Executive Officer of Moderna. 

Ticker Security Last Change Change %
AMZN AMAZON.COM, INC. 3,486.90 -2.34 -0.07%

Amazon CEO Jeff Bezos sold around $2 billion in stock as he prepares to hand the reins over to incoming chief Andy Jassy. 

Ticker Security Last Change Change %
PZZA PAPA JOHN'S INTERNATIONAL, INC. 103.84 +0.31 +0.30%

Papa John's saw a pop after both profit and sales exceeded analysts' expectations. North American sales rose over 26% driven by the company's Epic Stuffed Crust pizza.

US COMPANIES ADDED 742,000 JOBS IN APRIL, ADP SAYS

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The Associated Press contributed to this report.