All three major US stock indexes were up over 1% in late-morning trading on Friday thanks to a better-than-expected jobs report for April and hopes that the US and China may be inching closer to trade talks.

The April employment report showed nonfarm payrolls rose by 177,000, above the 138,000 increase expected in a survey compiled by Bloomberg as of 7:40 a.m. ET, while March and February payrolls saw downward revisions to 185,000 and 102,000, respectively. The unemployment rate held steady at 4.2%, as expected, while the labor force participation rate rose to 62.6% from 62.5% in the previous month.

In company news, Apple (AAPL) reported fiscal Q2 earnings late Thursday of $1.65 per diluted share compared with $1.53 a year earlier and above the consensus estimate of analysts surveyed by FactSet calling for $1.62. Fiscal Q2 net sales were $95.36 billion, up from $90.75 billion a year earlier and above the FactSet consensus of $94.54 billion. The tech giant increased its quarterly dividend 4% to $0.26 per share, payable May 15 to shareholders of record on May 12 and disclosed a new share repurchase program of up to $100 billion. Chief Executive Tim Cook said the company estimates an additional $900 million in costs in fiscal Q3 "assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter, and no new tariffs are added." Apple shares were down 3.6% around midday.

Amazon.com (AMZN) reported Q1 earnings late Thursday of $1.59 per diluted share, up from $0.98 a year earlier and above the FactSet consensus estimate of $1.37. First-quarter net sales were $155.67 billion, up from $143.31 billion a year ago and above the FactSet consensus of $155.15 billion. The company said it expects Q2 net sales in a range of $159.0 billion to $164.0 billion, compared to the FactSet consensus of $161.21 billion. Amazon also expects Q2 operating income of $13.0 billion to $17.5 billion, compared to expectations of $17.7 billion. Amazon shares were down 0.3%.

Exxon Mobil (XOM) reported Q1 adjusted earnings Friday of $1.76 per share, down from $2.06 a year earlier but above the FactSet consensus estimate of $1.75. First-quarter revenue was $83.13 billion, up from $83.08 billion a year ago but below the FactSet consensus of $86.35 billion. Exxon Mobil shares were down 0.1%.

Chevron (CVX) reported Q1 adjusted earnings Friday of $2.18 per share, down from $2.93 a year earlier but above the FactSet consensus of $2.16. First-quarter revenue was $47.61 billion, down from $48.72 billion a year earlier and below the FactSet consensus of $48.25 billion. Chevron shares were up 1.2%.

Shell (SHEL) reported Q1 adjusted earnings Friday of $0.92 per share, down from $1.20 a year earlier but above the FactSet consensus of $0.82. First-quarter revenue was $69.23 billion, down from $72.48 billion a year ago and below the FactSet consensus of $76.79 billion. Shell said it has started a $3.5 billion share buyback program to be completed before the company's Q2 results are announced on July 31. Chief Executive Wael Sawan said he prefers repurchasing more of the company's shares over initiating a takeover bid of BP (BP), the Financial Times reported Friday. Shares of Shell were up 2.5%, while those of BP were up 0.3%.

Take-Two Interactive Software (TTWO) said Friday its Rockstar Games label has pushed back the release date for Grand Theft Auto VI to May 26, 2026, from the original launch date this fall. Take-Two shares were down 6.2%.

Bunge Global's (BG) $8.2 billion takeover of Glencore-backed Viterra has been held back by trade tensions between the US and China, Bloomberg reported Friday, citing people familiar with the matter. Bunge shares were up 0.5%.

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