Stocks bouncing back after better than expected jobs report Stocks have been higher since the open after stronger than expected job growth was reported for April. The market is bouncing back following two down days after the Fed appeared to dash hopes that it might pursue a rate cut later this year, though the central bank again highlighted its "patience" and gave no sign that it plans to imminently hike rates either. ECONOMIC EVENTS: In the U.S., nonfarm payrolls increased 263,000 in April, which was stronger than forecast. The unemployment rate dropped to 3.6% from 3.8% previously. Average hourly earnings increased 0.2% month-over-month and were up 3.2% year-over-year. The advance goods trade deficit widened to $71.4B in March compared to $70.9B in February. Markit's services PMI came in at 53.0 in the final April reading, which was a little better than the 52.9 preliminary print, but down from 55.3 in March. The ISM nonmanufacturing index dipped another 0.6 points to 55.5 in April after falling 3.6 points to 56.1 in March. In Europe, the Eurozone Consumer Prices Index came in firmer than expected for April. Headline CPI growth of 1.7% topped the consensus 1.6% forecast. The core reading of a 1.2% rise was also ahead of consensus and up from 0.8% growth in March. TOP NEWS: Shares of Amazon (AMZN) are up about 3% at midday after Berkshire Hathaway's (BRK.A) Warren Buffett told CNBC's Becky Quick that one of his portfolio managers - Todd Combs or Ted Weschler - has bought stock of the e-commerce giant in the most recent quarter. Buffett expects the stake to be disclosed in the 13F filings that will be released later this month, he stated while being interviewed on the business news network ahead of Berkshire's shareholder meeting. MAJOR MOVERS: Among the noteworthy gainers were Newell Brands (NWL) and Monster Beverage (MNST), which gained a respective 11% and 10% after reporting quarterly results. Among the notable losers was Cognizant (CTSH), which fell 10% after the stock was downgraded at several Wall Street research firms after the company's "disappointing" Q1 earnings and revenue miss along with a cut to its FY19 forecast. Also lower were Arista Networks (ANET) and Activision Blizzard (ATVI), which fell 15% and 4%, respectively, after reporting quarterly results. INDEXES: Near midday, the Dow was up 170.05, or 0.65%, to 26,477.84, the Nasdaq was up 93.45, or 1.16%, to 8,130.22, and the S&P 500 was up 23.12, or 0.79%, to 2,940.64. Symbols: $AMZN $BRK.A $NWL $MNST $CTSH $ANET $ATVISource: (thefly.com)