Investors Optimistic About April's Jobs Growth and Fed Rate Pause

The US labor market added 253,000 new nonfarm jobs in April, beating Wall Street estimates, and average hourly earnings rose by 0.5%. Berkshire Hathaway held its annual meeting, where CEO Warren Buffett shared his favorite stocks. Apple's better-than-expected earnings report and an optimistic note from JPMorgan Chase boosted US markets, with the Dow Jones, S&P 500, and Nasdaq Composite all rising. JPMorgan Chase upgraded three regional bank stocks, causing the SPDR S&P Regional Banking ETF to rise 6.3%.