David Mastroianni, strategic account executive at Adviser Investments, has the market analysis for Friday, May 3. Major U.S. stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. indexes advanced on better than expected employment data, with the Dow Jones Industrial Average, S&P 500 and NASDAQ Composite up 0.8%, 1.0% and 1.6%, respectively—marking a new record high for the NASDAQ. The Labor Department reported that 263,000 new jobs were added in April, as unemployment dropped to a 50-year low. Meanwhile, despite decreasing sales and profits, Newell Brands’ stock surged 13% after beating earnings expectations. Newcomer vegan food producer Beyond Meat broke 2019’s IPO record, pushing the company’s valuation near $4 billion. Beyond Meat’s stock price closed the day at $67, up nearly 200% from its IPO price.
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