Wall Street finished Friday on a modestly positive note, with the S&P 500 and Dow both logging gains as investors digested a cooler-than-expected April jobs report. Nonfarm payrolls came in at 175,000 — below the consensus estimate of 210,000 — which markets interpreted as a green light for the Federal Reserve to hold rates steady at its next meeting. The softer labor data pushed Treasury yields slightly lower, giving rate-sensitive sectors a lift.
Healthcare was the standout sector of the day, led by Amgen, which surged nearly 5% after delivering a blowout earnings report Thursday evening. The biotech giant cited strong demand across its inflammation and oncology portfolios and lifted its full-year outlook, drawing fresh institutional buying throughout the session.
Technology closed mixed. Nvidia and Meta edged higher, while Intel dragged on the sector after an analyst downgrade raised fresh concerns about its competitiveness in AI infrastructure. The Nasdaq's modest gain of 0.2% reflected that tug-of-war between the winners and laggards within tech.
For the week overall, markets posted modest gains, capping a relatively calm stretch after weeks of tariff-driven volatility. The VIX settled near 18, suggesting investors are cautiously comfortable — though not complacent — heading into the weekend.