Stocks and Bitcoin Rally After US Jobs, Home Sales Beat

US stocks and bitcoin rose on May 5 after government reports showed stronger-than-expected readings on job openings, hires and new home sales.

The Labor Department’s March JOLTS report recorded 6.866 million job openings, slightly above consensus. Hires increased by 655,000 to 5.6 million, indicating continued employer demand for workers.

The Institute for Supply Management’s services index for April registered 53.6, below March’s 54.0 but above the 50 threshold that marks expansion in the sector. New home sales for March rose 7.4% month over month to a 682,000 annualized pace. Inventory tightened to about 8.5 months of supply and the median sale price eased to $387,400.

Market prices moved with the data. The S&P 500 rose to 7,253 and the Nasdaq 100 climbed to 27,964. Bitcoin advanced from an intraday low by roughly $1,000 and settled near $81,266.

Market participants flagged services-sector price measures and oil-related cost pressures as items to watch ahead of upcoming consumer-price and employment reports. Those releases will provide additional data on inflation and labor-market momentum.

JOLTS captures unfilled job positions, the ISM services index tracks service-sector activity, and new home sales offer a near-term view of housing demand and supply. Investors and policymakers are expected to consider all three reports when assessing growth and inflation trends.