April Jobs Report and Apple Combine to Spark Market Rally 5/3/24

Carl Quintanilla, Jim Cramer and David Faber covered all of the bases on Friday's stock market rally.The two main catalysts: The April employment report shows the economy created fewer jobs than expected,fueling investor hopes for a Fed rate cut.  Apple shares surged as the company's Q2 earnings beat, guidance and record $110 billion share buyback program overshadowed a decline in revenue and iPhone sales. What does it all mean for big tech?   Also in focus: A "Faber Report" on the Paramount deal saga, Amgen soars, earnings winners and losers, Cramer reacts to the New York Knicks eliminating the Philadelphia 76ers from the NBA Playoffs.      Squawk on the Street Disclaimer