US Stocks Rally on Strong Jobs Data as Nasdaq Gains 1.4%

US equities advanced Friday after a robust April jobs report showed payrolls adding 115,000 positions—far exceeding the 65,000 consensus estimate. The unemployment rate remained stable at 4.3% as hiring expanded beyond healthcare into transportation, warehousing, and retail sectors. Market reaction was immediate, with the Nasdaq Composite climbing 1.4% and the S&P 500 rising 0.79%.

Wage growth figures tempered enthusiasm slightly, with average hourly earnings rising 0.2% monthly and 3.6% annually—below respective forecasts of 0.3% and 3.8%. The report follows volatile employment data this year, including upward revisions to March figures and January's strong performance.

Geopolitical tensions near the Strait of Hormuz briefly diverted attention, triggering a 0.4% rise in West Texas Intermediate crude after US-Iran military exchanges. Analysts noted the jobs data reinforces economic resilience but cautioned about persistent sectoral weaknesses in manufacturing and government employment.