As U.S. Stocks Rebound After Four Days Of Losses, Dow Gain 350 Points

On Friday, U.S. stocks rebounded after experiencing four consecutive days of losses. The recovery was driven by the upward movement of regional bank shares and a strong April jobs report that suggests the possibility of avoiding a recession. 

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Additionally, Apple's earnings beat forecasts, which also contributed to the overall positive sentiment. However, on Thursday, the Dow Jones Industrial Average had fallen by 287 points, or 0.86%, to 33,128, remaining down by more than 2% for the week and heading towards its worst weekly pullback since March.

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The banking sector's concerns dominated the market until Apple's earnings announcement offered a welcome distraction, following the banking sector's volatility over First Republic Bank's takeover by JPMorgan Chase & Co. 

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Furthermore, the employment report for April indicated the addition of 253,000 jobs last month, exceeding the 180,000 forecasts by economists polled by the Wall Street Journal. 

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Annual wage growth also rose to 4.4% from 4.2% in the previous month, while the unemployment rate decreased to 3.4% from 3.5%.

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Despite March and February's weaker job growth data, the overall positive jobs report, along with Apple's earnings, provided investors with a sense of relief and optimism. 

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Investors' confidence was further reinforced by the likelihood of a soft landing instead of a severe recession.

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In addition to the stock market, the oil and gold futures markets experienced significant changes. The price of West Texas Intermediate crude for June delivery fell by more than 8% since the beginning of the week to slightly above $70 per barrel. 

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Meanwhile, gold futures nearly reached record highs on Thursday, with a settlement of $2,055.70 per ounce. Treasury yields also increased sharply, with the 10-year note up 9.7 basis points to 3.444%, which caused prices to move inversely.

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