Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are set to close out the week on a positive note after the U.S. Bureau of Labor Statistics (BLS) released April’s jobs report.
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New trading tool for QQQ bullsDuring the month, nonfarm payrolls surged higher by 115,000, almost doubling the consensus estimate of 65,000. Hiring for March was revised upward by 7,000, while February was revised down by 23,000. Furthermore, the unemployment rate remained unchanged at 4.3% and was in line with expectations.
U.S. Awaits Iran’s Response as Semiconductor and Memory Stocks Lead the Charge
Elsewhere, Secretary of State Marco Rubio said he expects Iran to provide a response to a peace proposal submitted by the U.S. earlier this week. If Iran accepts, a 30-day negotiation window will open and lead to discussions on Iran’s ability to enrich uranium and the reopening of the Strait of Hormuz.
Finally, semiconductor and memory stocks continue to push the market higher. Micron (MU), AMD (AMD), Intel (INTC), and Qualcomm (QCOM) are all up by at least 5% at the time of writing.