Markets Rally on Weak Jobs Report | Closing Bell

The S&P 500 and Nasdaq closed at record highs after a weak jobs report reduced rate-hike fears, with rotation favoring materials and discretionary stocks. Stock-specific moves were driven by earnings, including a surge in Airbnb and a drop in Trade Desk. The anchors also commented on retail trends and playful banter about luxury coffee. - U.S. equities rallied for the week, with the S&P 500 up 3.5% and Nasdaq up 5.3%. - A weaker-than-expected April jobs report fueled expectations the Fed will hold rates steady. - Market rotation pushed materials and consumer discretionary sectors higher. - Airbnb jumped 17% after raising revenue and margin guidance on strong travel demand. - Trade Desk plummeted 22% after a revenue guidance miss and analyst downgrades. - Under Armour and Sweet Green declined on soft demand and lowered sales outlooks. - The hosts highlighted sector concentration and mentioned a luxury coffee chain and a gift card promotion.