A possible thawing in US-China trade tensions boosted spirits after earnings from Apple and Amazon shed light on the likely cost of tariffs.

US stocks open sharply higher after a stronger-than-expected April jobs report and signs China may be open to tariff talks. Dow jumps 300 points.

The US stock market has been on a rollercoaster during President Donald Trump’s second term. The S&P 500 posted its third worst 100-day start to a presidential term in US history, only behind Gerald Ford and Richard Nixon.

In 100 days full of surprises for investors, the S&P 500 and Dow nearly recouped their April declines – even with a worse-than-expect GDP report.

"That will work now," Sen. Thom Tillis said of Trump blaming Biden for the stock market. "It won't work six months from now."

U.S. technology-related stocks including many involved in artificial intelligence rose sharply on Thursday following stronger-than-expected results from Microsoft and Meta Platforms, while investors awaited results from Apple and Amazon.

U.S. stocks open higher, boosted by strong earnings from Meta and Microsoft. Apple and Amazon are due to report after the close.

Meta raised its capital expenditures guidance for 2025 to $64 billion to $72 billion, signaling huge AI investment by Big Tech is still underway.