Wall Street Rallies for 9th Day, Regains Tariff-Loss Ground

Wall Street notched its longest winning streak since 2004, with major indexes recovering all losses incurred since the escalation of the U.S.-China trade war in early April. The rally was fueled by a stronger-than-expected U.S. jobs report and renewed optimism for easing tensions between the U.S. and China. Broad-based gains saw approximately 90% of S&P 500 stocks and every sector advance, with technology stocks like Microsoft and Nvidia leading the way, though Apple fell after estimating a $900 million tariff cost. Banks and financial companies also posted solid gains. While hiring slowed in April, job numbers exceeded forecasts; however, analysts note that the latest figures do not yet reflect the full impact of recently imposed tariffs, many of which were delayed except those against China. Market observers warn that if the administration resumes tariff escalation after the current pause, volatility similar to early April could return.