US April Payrolls Beat 115K vs 65K Expected, Easing Fears After Sentiment Crashes to 48.2

US nonfarm payrolls surged 115,000 in April—crushing 65,000 consensus—while unemployment held steady at 4.3%, tempering labor slowdown fears after consumer sentiment plunged to a historic low of 48.2 and triggered a 1.2% S&P 500 drop. The week opened with ADP's 109,000 private jobs miss (vs 120,000 forecast) and a construction spending upside of 0.6% (vs 0.2% expected), but Bank of America flagged a broad spending slump through May 2 amid sticky 4.5% price growth. Mixed data highlights resilient jobs amid weakening sentiment and outlays, reducing recession odds while clouding the Fed's rate path.