Economy

Title: After Apple's Results, U.S. Stocks Close with Significant Gains

Title: After Apple's Results, U.S. Stocks Close with Significant Gains

U.S. stocks closed sharply higher on Friday with a surge in Apple shares following strong results, while U.S. job data indicated the robustness of the labor market. Apple's results also eased investors' fears of a potential recession. The shares of the iPhone maker were the main positive driver for the three major indices in the U.S. stock market. A report released by the U.S. Department of Labor on Friday showed an acceleration in job growth in April and an increase in wages, indicating the continued strength of the labor market despite the recent interest rate hikes by the Federal Reserve. According to preliminary data, the S&P 500 index closed up 74.55 points, or 1.84%, at 4135.77 points, while the Nasdaq Composite increased 264.67 points, or 2.21%, to 12231.07 points. The Dow Jones Industrial Average rose 541.01 points, or 1.63%, to 33668.75 points.

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