Morning Report 05 May 25: Wall Street propelled higher by encouraging jobs figures

US stocks rallied on Friday after stronger-than-expected jobs growth in April boosted investor confidence. The S&P 500 rose for a ninth straight session—its longest winning streak since 2004—with all sectors finishing in the green. Communication services led the gains, driven by a 4% jump in Meta shares. Financials also advanced, with the KBW Bank Index climbing 4% over the week, while industrials were buoyed by a 3% lift in Caterpillar and 3M. In commodities, oil prices slid 1.5%, marking their biggest weekly decline since March while gold futures also eased back from record highs. Closer to home, futures suggest a positive start for the ASX 200, as investors turn their attention to the upcoming confession season.

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