In a strong finish to the week, major indexes in the stock market surged on Friday as a weaker-than-expected jobs report raised hopes of an imminent rate cut. The Dow Jones Industrial Average rose by over 450 points, or 1.2%, closing the week with a 1.1% gain.

Amidst the positive market sentiment, technology giant Apple (AAPL) stole the show, soaring by 6% after revealing its largest-ever share buyback plan and impressive second-quarter results. The Cupertino-based company also raised its dividend, which contributed to the stock's bullish growth. Apple's decision to repurchase shares worth $110 billion marks the largest buyback in corporate history.

Driving the market further, Berkshire Hathaway (BRKB), helmed by renowned investor Warren Buffett, approached its 50-day moving average ahead of its quarterly report. The strong performance of the conglomerate, even before the release of its earnings, bolstered investor confidence.

The release of jobs data showed that the US economy added 175,000 jobs in April, falling short of economists' expectations of 243,000 jobs. The unemployment rate edged higher to 3.9%, contrary to the forecasted 3.8%. Analysts speculate that the disappointing statistics may prompt an earlier rate cut, with hopes of a potential reduction as early as July.

The S&P 500 gained 1.3% on Friday, while the Nasdaq outperformed with a 2% climb, moving slightly above its 50-day line. Most sectors experienced gains, except for the energy sector, which witnessed a decline.

On the earnings front, several companies made waves. Pharmaceutical giant Amgen (AMGN) saw impressive gains, surging by nearly 12% after releasing its first-quarter results and making progress on an obesity drug. Salesforce (CRM) rose by 0.6%, and Microsoft (MSFT) approached its 50-day moving average with a 2.2% increase.

In other developments, MercadoLibre (MELI) experienced an 8% surge following better-than-expected first-quarter results. On the flip side, cryptocurrency exchange Coinbase (COIN) faced resistance at the 50-day line, and its stock fell after reporting impressive first-quarter numbers.

Looking ahead, market observers are closely monitoring the performance of key players, such as Warren Buffett's Berkshire Hathaway, which closed almost flat ahead of its earnings report over the weekend. Analysts suggest that a strong rebound from the 50-day moving average after earnings could present a potential entry point.

Furthermore, as lower interest rates uplifted the homebuilding sector, companies such as Meritage Homes (MTH), Pulte Group (PHM), and Toll Brothers (TOL) witnessed gains. The iShares U.S. Home Construction ETF (ITB) briefly climbed above the 50-day line before closing below it.

Overall, the stock market ended the week on a bullish note, with hopes of a rate cut sooner rather than later contributing to the positive sentiment. Investors eagerly await further updates that may impact market dynamics in the coming weeks.

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