Keir Ginnemey

The U.S. economy keeps adding jobs despite tariff uncertainty. But can it last? Plus, what's driving President Trump's trade agenda?

The U.S. economy keeps adding jobs despite tariff uncertainty. But can it last? Plus, what's driving President Trump's trade agenda?

And President Trump says Harvard's tax exemption will be revoked. Harvard President Alan Garber says such a move would be highly illegal and destructive. It's Friday, May 2nd. I'm Keir Ginnemey for The Wall Street Journal, filling in for Alex Osola. This is the PM edition of What's News, the top headlines and business stories that moved the world today.

And President Trump says Harvard's tax exemption will be revoked. Harvard President Alan Garber says such a move would be highly illegal and destructive. It's Friday, May 2nd. I'm Keir Ginnemey for The Wall Street Journal, filling in for Alex Osola. This is the PM edition of What's News, the top headlines and business stories that moved the world today.

Despite tariff uncertainty, employers in the U.S. added 177,000 jobs in April, beating the expectations of economists polled by the Wall Street Journal. But hiring slowed slightly compared to March's pace, in a period that saw changing tariff announcements and market turmoil. The unemployment rate, based on a separate survey, held steady at 4.2%.

Despite tariff uncertainty, employers in the U.S. added 177,000 jobs in April, beating the expectations of economists polled by the Wall Street Journal. But hiring slowed slightly compared to March's pace, in a period that saw changing tariff announcements and market turmoil. The unemployment rate, based on a separate survey, held steady at 4.2%.

So what do these numbers tell us about the effects of Trump's trade policy? For that, I'm joined by our chief economics commentator, Greg Ip. Greg, what does this jobs report tell us about the economy post-Liberation Day?

So what do these numbers tell us about the effects of Trump's trade policy? For that, I'm joined by our chief economics commentator, Greg Ip. Greg, what does this jobs report tell us about the economy post-Liberation Day?

You say we haven't seen the effects of tariffs in these numbers yet. Should we expect a slowdown in future jobs gains?

You say we haven't seen the effects of tariffs in these numbers yet. Should we expect a slowdown in future jobs gains?

What about a separate aspect of the Trump administration's policies, federal layoffs?

What about a separate aspect of the Trump administration's policies, federal layoffs?

Thanks, Greg. Thank you. Stocks extended their multi-day climb today following those jobs numbers and signs of a potential thaw between the U.S. and China. More on that later. The Dow, the S&P 500, and the Nasdaq Composite rose 1.3 percent or more. The S&P, which rose 1.5 percent, closed higher for a ninth straight session, its longest streak of daily gains since 2004.

Thanks, Greg. Thank you. Stocks extended their multi-day climb today following those jobs numbers and signs of a potential thaw between the U.S. and China. More on that later. The Dow, the S&P 500, and the Nasdaq Composite rose 1.3 percent or more. The S&P, which rose 1.5 percent, closed higher for a ninth straight session, its longest streak of daily gains since 2004.

President Trump ramped up his fight with Harvard University, threatening to revoke the Ivy League school's tax exemption after it filed a federal lawsuit against his administration. Harvard President Alan Garber responded to President Trump's threat in an interview with WSJ editor-in-chief Emma Tucker this morning.

President Trump ramped up his fight with Harvard University, threatening to revoke the Ivy League school's tax exemption after it filed a federal lawsuit against his administration. Harvard President Alan Garber responded to President Trump's threat in an interview with WSJ editor-in-chief Emma Tucker this morning.

Garber's extended interview with WSJ editor-in-chief Emma Tucker will be published Monday. Harvard's suit argues the government has violated the university's constitutional rights by freezing billions of dollars in federal funding. The tax code prohibits the U.S.

Garber's extended interview with WSJ editor-in-chief Emma Tucker will be published Monday. Harvard's suit argues the government has violated the university's constitutional rights by freezing billions of dollars in federal funding. The tax code prohibits the U.S.

president and other senior officials from directly or indirectly asking the Internal Revenue Service to conduct or stop an audit or other investigations. The IRS didn't respond to requests for comment. Coming up, how the Trump administration aims to establish near absolute U.S. power over global trade, prioritizing American interests. That's after the break.

president and other senior officials from directly or indirectly asking the Internal Revenue Service to conduct or stop an audit or other investigations. The IRS didn't respond to requests for comment. Coming up, how the Trump administration aims to establish near absolute U.S. power over global trade, prioritizing American interests. That's after the break.