Global stocks gain on US jobs data, tariff talks hopes
Matthew Cheslock, left, and Anthony Confusione work on the floor at the New York Stock Exchange in New York, Wednesday, April 30, 2025. (AP Photo/Seth Wenig)
LONDON, United Kingdom — Global stock markets rose on Friday as jobs data reassured investors on the US economy as did indications Beijing and Washington may begin to talk about resolving their tariff standoff.
Data showed that US hiring slowed much less than expected last month, with the world’s largest economy adding 177,000 jobs.
European equities and US stock futures both jumped following the release of the data. Wall Street’s main indices gained around one percent at the opening bell.
“The April jobs report may reassure investors that the labor market is holding up, giving them more confidence that the economy can hold up too,” said Bret Kenwell, analyst at eToro trading platform.
Data released Thursday showed the US economy unexpectedly contracted in the first three months of the year. This was on an import surge triggered by US Donald Trump’s tariff plans.
Falling US consumer confidence and rising jobless numbers have also caused angst among investors.
Stocks direction also hinged on path of interest rates
The monthly US jobs data is also important for investors looking for indications of the US central bank’s path for interest rates. Also, a smaller-than-expected monthly increases in wages should reassure the Federal Reserve on inflationary pressures in the labor market.
Meanwhile, China’s commerce ministry on Friday said it was evaluating a US offer for negotiations on tariffs. However, insisted Washington must be ready to scrap levies that have roiled global markets and supply chains.
Trump’s levies reached 145 percent on many Chinese products in April. Meanwhile, Beijing has responded with fresh 125 percent duties on imports from the United States.
READ: China says ‘currently evaluating’ US offer of tariff talks
Trump has repeatedly claimed that China has reached out for talks on the tariffs. This week said he believed there was a “very good chance we’re going to make a deal.”
The US president has also imposed 10 percent tariffs on imports from around the world. Dozens of countries face a 90-day deadline expiring in July to strike an agreement with Washington and avoid higher, country-specific rates.
Deutsche Bank managing director Jim Reid said the Chinese statement “is outweighing concerns about the effect of tariffs. These were initially triggered by disappointing earnings from Apple and Amazon.”
US tech giants Apple and Amazon both reported disappointing outlooks, as tariffs knock business confidence, after markets closed on Thursday.
Shares in Apple slumped around 5 percent and Amazon around 1 percent as trading got underway in New York on Friday.
European stocks gained despite unchanged inflation
In Europe, Paris and Frankfurt rose over 2 percent as markets brushed off official data showing eurozone inflation remained unchanged at slightly above the European Central Bank’s 2-percent target.
London also gained, with mining and commodity stocks — sensitive to Chinese demand — performing particularly well. This was amid optimism for potential China-US talks, according to analysts.
In Asia on Friday, Hong Kong was up more than 1.7 percent at the close, while Tokyo rose one percent.
Mainland Chinese markets were closed for a holiday.
Japan’s envoy for US tariff talks said in Washington on Thursday that a second round of negotiations between the two countries had been “frank and constructive.”
The Bank of Japan warned earlier that tariffs were fueling global economic uncertainty. It revised down its growth forecasts while keeping its key interest rate steady.
In company news, oil majors ExxonMobil and Shell reported lower profit on weaker crude prices.
But Shell managed to be one of the biggest risers in London on Friday as it pushed ahead with shareholder returns.
