US Stock Market Move | The Nasdaq Composite rose 1.22%, hitting a new all-time high, with tech stocks performing well. American tech company AMD increased by more than 6%.

On Friday, the three major US stock indexes collectively opened higher, with the Nasdaq rising by 1.22% to reach a new high. Star tech stocks surged, with AMD.US and INTC.US up more than 6%, TSLA.US up more than 4%, AAPL.US and NVDA.US up more than 2%, and AMZN.US and GOOGL.US up nearly 1%. On the news front, data from the US Bureau of Labor Statistics showed that non-farm payrolls increased by 115,000 in April. Although this was a significant drop from the exceptionally strong 185,000 in March, it significantly exceeded market expectations of 65,000. This is the first time in nearly a year that the US job market has seen consecutive growth. The unemployment rate remained unchanged for the second consecutive month at 4.3%, further confirming that mild job growth is sufficient to maintain labor market stability in the context of limited labor force growth. Economist Anna Wong stated that the unexpectedly strong recruitment performance in April, combined with the increase in the unemployment rate, suggests that the pace of job growth needed to maintain stable unemployment may be higher than the near-zero growth estimated by the Federal Reserve earlier. The most notable detail in the April employment report is the contribution of the freight industry, which accounted for over half of the new jobs added that month. This confirms the improvement signals released in recent PMI surveys and regional Federal Reserve manufacturing surveys, indicating that the industrial sector may be undergoing a strong recovery. Wong mentioned that this report does not change her assessment of the Federal Fund Rate path, and she believes that the Fed is likely to keep rates unchanged until the fourth quarter. However, with the unemployment rate climbing, she predicts that the Fed will cut rates by 50 basis points at that time.