TELETRADER News
5/5/2023, 3:30 PM (Source: TeleTrader)
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Wall Street rallies at open, Dow jumps over 300 pts

Major United States stock indexes traded with strong gains at the open on Friday, as investors embraced better-than-anticipated earnings results from Apple and Coinbase. Meanwhile, financial turmoil seems to be subsiding, with regional bank shares recovering from yesterday's slump.

On the data front, nonfarm payrolls in the country came in above analysts' expectations. Earlier this week, the Federal Reserve raised its key interest rate by 0.25 percentage points.

The Dow Jones rallied 0.95% or 314 points at the opening bell, as Apple jumped 4.55% at the same time. At 9:30 am ET, the S&P 500 advanced 0.92%, with Zions Bancorporation skyrocketing 15.96% a minute later. The Nasdaq 100 gained 0.69% at the open, with Monster Beverage up 3.51% at 9:31 am ET. The euro traded 0.27% below the dollar at 9:29 am ET, selling for 1.09832.

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