Wall Street Breaks Five-Week Slump
Summary:
- S&P 500 jumped 3.4%, Nasdaq surged 4.4%, and Dow climbed 2.96% as markets snapped a five-week losing streak.
- March jobs crushed estimates at 178,000 versus the 59,000 forecast, signaling labor market resilience.
- SpaceX filed for its IPO at a $1.75 trillion valuation while OpenAI closed a $122 billion funding round at $852 billion.
Stock markets surged out of their five-week losing streak. The S&P 500 jumped 3.4%, Nasdaq 4.4%, and Dow 2.96% as oil prices retreated and freed up investor appetite.
March jobs came in at 178,000 - triple the 59,000 estimate - signaling labor market resilience despite rate-cut expectations falling to zero for 2026.
Tech and Venture Capital Led the Charge
SpaceX filed for its IPO at a $1.75 trillion valuation while OpenAI closed a $122 billion funding round at $852 billion. Both deals signal confidence in private markets even as public equities recover.
AI's continued dominance in capital allocation is pulling investor attention back into growth names.
The Rally Held Despite Oil Headwinds
Rising fuel costs historically crimp stock gains, but bulls held ground this week - suggesting underlying strength. Better-than-expected employment data and venture-scale bets pushed major indices past resistance points formed during the month-long decline.
What to Watch
Next week's inflation data will determine whether this rally has legs or whether energy costs drag markets back into selling mode. One strong week doesn't erase five weak ones.
