- Stock futures got a boost Friday from news that the U.S. and China could soon find themselves at the trade negotiating table.
- The Labor Department is out with its read on nonfarm payrolls for the month of April at 8:30 a.m. ET.
- Amazon and Apple reported results for their most recent quarters on Thursday.
Here are five key things investors need to know to start the trading day:
1. Can we talk?
Stock futures got a boost Friday from news that the U.S. and China could soon find themselves at the trade negotiating table. A spokesperson for China’s commerce ministry said senior U.S. officials have recently reached out “through relevant parties multiple times” and that China is evaluating the possibility of holding talks. Meanwhile China reiterated its request that the U.S. immediately remove tariffs on the country. Futures to the S&P 500 rose 0.42% Friday morning, while Dow Jones Industrial Average futures added 0.47% and Nasdaq 100 futures gained 0.26%. Follow live market updates.
2. Jobs data
Recruiters talk to people at the Global Assistance booth at the Mega JobNewsUSA South Florida Job Fair at the Amerant Bank Arena on April 30, 2025 in Sunrise, Florida.
Friday is for jobs data. The Labor Department is out with its read on nonfarm payrolls for the month of April at 8:30 a.m. ET. Economists expect the report to show an increase of 133,000 jobs, well off the 228,000 roles that were added in March. Investors are used to bracing for sour economic news by now, but too far under the estimate and stocks could tumble. “If it’s around 150,000 give or take, I think all will be forgiven,” said Mark Zandi, chief economist at Moody’s Analytics. “If the number’s 100,000 or anything south of that, then I think I’d watch out.”
3. Off their A game
Amazon and Apple reported results for their most recent quarters on Thursday. Amazon beat on the top and bottom lines, but issued light guidance for its current quarter. The company’s cloud revenue underperformed for the third straight quarter, but its ad business grew 19%, topping Wall Street expectations. Apple, for its part, topped the Street’s revenue estimates, but its all-important Services division disappointed. The iPhone maker said it expects a current-quarter tariff impact of $900 million. Shares of both companies were lower in premarket trading.
4. Request for relief
President Donald Trump delivers remarks during a National Day of Prayer event in the Rose Garden at the White House on May 1, 2025 in Washington, DC.
The latest plea for tariff relief comes courtesy of the U.S. Chamber of Commerce. The business lobbying group, in a letter obtained by CNBC, has asked President Donald Trump for a “tariff exclusion process” in order to spare the U.S. economy from recession and avoid “irreparable harm” on small businesses. The Chamber’s CEO, Suzanne Clark, told CNBC it received scores of requests from small businesses for both information and relief. “We do worry about government overreach,” Clark said. “In this case, the courts take a long time. And what small business needs, what all business needs, is more immediate relief.”
5. On your marks
Brian Hernandez Jr. rides Thorpedo Anna to win he 150th running of Kentucky Oaks horse race at Churchill Downs, one day before the 150th running of the Kentucky Derby, in Louisville, KY on Friday, May 03, 2024.
The 151st Kentucky Derby takes place Saturday, and the CEO of storied racing track Churchill Downs says demand is strong even amid global uncertainty. Collapsing consumer confidence and the threat of rising costs due to tariffs have many companies — including Churchill Downs — reining in spending. Yet CEO Bill Carstanjen said international interest in the race has never been stronger. The winner of the race will take home $3.1 million from a total $5 million purse, but wealthy owners of horses often see the thoroughbreds as more of a lifestyle and passion asset than a surefire moneymaker.
– CNBC’s Anniek Bao, Hakyung Kim, Jeff Cox, Annie Palmer, Kif Leswing, Jordan Novet, Jonathan Vanian, Megan Cassella, Kevin Breuninger, Contessa Brewer, Jess Golden and Hayley Cuccinello contributed to this report.
