Global markets on both sides of the Atlantic experienced positive gains following the release of the US April jobs report, which showed a slower but stronger-than-expected growth in employment. The S&P 500 and Dow Jones in the US rose significantly, while European markets also closed higher. The UK’s FTSE 100 marked its longest winning streak ever, with Germany’s Dax and France’s Cac also seeing notable gains.

The job growth of 177,000 in the US last month exceeded economists’ expectations of 130,000, providing a glimmer of hope for the economy amidst concerns over the impact of tariffs imposed by President Trump. These positive developments were further boosted by reports of potential trade negotiations between Beijing and Washington, easing tensions and fostering optimism in the market.

The FTSE’s impressive recovery from previous losses attributed to trade war fears was highlighted, with experts like Susannah Streeter from Hargreaves Lansdown emphasizing the market’s surge and resilience. Despite the White House’s tariff policies, employers in the US continued to add jobs steadily in April, maintaining the unemployment rate at 4.2%.

However, while April’s job growth was encouraging, the Bureau of Labor Statistics revised down previous gains for February and March. Notable job gains in healthcare and transportation sectors were observed, while federal government employment decreased as part of ongoing efficiency measures. The BLS also noted discrepancies in job loss figures due to unaccounted factors like paid leave and severance payments.