US stocks rose over the weak on positive economic news and optimism over US/China trade negotiations. The S&P 500 rose 2.1% and the Dow gained 1.9% for the week. Abroad, Europe was up 2.4% and Japan surged 2.8% for the week. The yield on the 10-Year Treasury ended the week at 2.50% up from the previous week.
The March jobs report topped expectations with 196,000 jobs added, a solid rebound from weak February numbers, and the unemployment rate remained at 3.8%. Wages grew at 3.2%, up slightly from February, but falling short of expectations.
A gauge of Chinese manufacturing activity hit a six month high in March, well above expectations.
US manufacturing picked up its pace in March posting better than expected readings. Manufacturing in Germany, Japan and South Korea however showed weakness.
Auto makers posted a 2% sales decline in the first quarter.
A reading of China’s service sector rose to a 14th month high.
Eurozone service sector activity in March rose at its strongest rate since November.