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U.S. employers added fewer jobs than expected in April, breaking a three-month-long streak of hotter-than-expected jobs data. The news sent stocks sharply higher Friday amid investor optimism that a long-awaited cooling of the economy could be on the horizon and prompt the Federal Reserve to cut interest rates.

Employers added 175,000 jobs in April, a slowdown from the upwardly revised 315,000 jobs created in March, the Bureau of Labor Statistics said Friday. That was well below the forecast for 240,000, ​​according to a survey of economists by Dow Jones Newswires and the , and was the first time in four months the job data undershot expectations. The unemployment rate edged up to 3.9%, higher than the median forecast for it to stay at 3.8%, but staying close to historic lows.

While the number of jobs added wasn’t especially low by historical standards—the average in the three years before the pandemic was 177,000 jobs a month—it added to gathering signs of weakness. A reduction in job openings over recent months indicates the Federal Reserve’s campaign of interest rate hikes, intended to combat inflation, is dragging on the economy. 

Economists have long anticipated the downshift, but it has been slow to arrive partly because consumers have accelerated spending despite high prices and interest rates pressuring household budgets. 

A slower job market in April meant lower pay increases for workers, who had their hourly wages rise 0.2% in April from March, according to the data released Friday.

The labor market slowdown worsens the outlook for job seekers but could boost financial markets and provide respite for consumers because of its implications for inflation and interest rates. 

The Dow Jones Industrial Average was up more than 400 points in early-afternoon trading, while the tech-heavy Nasdaq Composite was up more than 300 points, a nearly 2% gain.

Officials at the Federal Reserve have kept the central bank’s benchmark interest rate higher for longer, using monetary policy to quell inflation, partly because of the labor market’s surprising winning streak.

Slower hiring and wage growth could take upward pressure off price increases, and encourage Fed officials to lower the fed funds rate, which influences rates on all kinds of credit including mortgages and business loans. 

The Fed, in deciding Wednesday to leave its key rate at a 23-year high, said that progress had stalled in bringing inflation down to the central bank's annual 2% target. Fed Chair Jerome Powell said in a press conference after the decision was announced that, while he's less confident about inflation's downward trajectory based on recent data, he still thinks it's likely to fall.

According to Danielle Hale, chief economist at Realtor.com, "(t)he April jobs report came in at a healthy level, but much more in line with the cooling that the Fed is looking for, consistent with the idea that their monetary policy is working to rein in economic growth and ease inflation.”

“This month’s data shows that the labor market remains relatively healthy, even as it indicates that momentum is slowing, falling more in line with what is expected at this point in the monetary policy cycle," Hale said said in a commentary.

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Judy Austin has sent a message to her gender on finding true love.

Taking to her Instagram page, the wife of Yul Edochie stated that true love is hard to find. However, if one is lucky to find one, she should protect it, cherish it, adore it, nourish it, fight for it and reciprocate it with everything they’ve got.

Judy Austin admonished her fans not to choose to be lonely because of people that don’t care about them. She told them to live their life to the fullest and not live for anybody but themselves.

She added that no matter how people trying to downgrade having a loving spouse in ones life, nothing is more precious than being in love and being loved in return.

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Actress Queeneth Hilbert has made a ridicule of actress Mercy Johnson’s alleged bestie, Ifeoma by telling her that she would reap what she sows.

She went on a lengthy rant while reminding Ifeoma how she bullied up coming actress in the movie industry because of her closeness to Mercy Johnson.

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Media Personality, Toke Makinwa has admitted to having gone through a plastic surgical procedure to enhance her derrière.

She made the revelation during a question and answer session with her fans, as she also admitted that she regrets bleaching her skin.

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Hershey (HSY) posted better-than-expected results for the first quarter on higher prices and demand for sweets in its North American market.

The maker of Hershey Kisses, Milk Duds, and Skinny Pop popcorn reported first-quarter diluted earnings per share (EPS) of $3.89, an increase of 36.5% from the year-ago period, with revenue rising 8.9% to $3.25 billion. Both were above analyst estimates compiled by Visible Alpha.

North American confectionary sales jumped 10.4%, while sales of salty snacks in North America climbed 1.9%. International sales advanced 1.8%.

Volumes were up for North American confectionaries and salty snacks, but fell internationally. Organic volume/mix in North American confectionary snacks jumped 4.5%, while it rose 0.2% for salty snacks. By contrast, organic volume/mix fell 4.8% internationally.

Hershey said prices were 5.2% higher overall than they were a year ago.

CEO Michele Buck said Hershey was “off to a strong start” of the year, and addressed the volatile cocoa market, saying Hershey has “dedicated resources and strong investments in place to ensure we have a resilient supply chain for the future.”

“We are well covered for 2024 and do not expect recent volatility to affect our financial outlook for the year,” she said.

Despite the better-than-expected first-quarter performance, Hershey did not change its full-year outlook, maintaining its projection of a 2% to 3% increase in sales and unchanged adjusted EPS from 2023. 

Hershey shares were little changed in early trading Friday following the release at $196.01 as of 11 a.m. ET. They've gained about 5% so far this year.

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Ifeoma, actress Mercy Johnson’s alleged former best friend, accused her of witchcraft and voodooism, claiming her late mother was the mastermind.

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