Fireworks as thousands greet Serbian students who cycled to France seeking EU support for protests

NOVI SAD, Serbia (AP) — Thousands of people greeted on Tuesday a group of Serbian university students who had cycled more than 1,300 kilometers (780 miles) this month to draw European Union attention to their struggle against corruption in the Balkan country.

Fireworks, drums and whistles echoed through the northern city of Novi Sad as some 80 students symbolically received medals and walked a red carpet in a joyous recognition of their effort in early April.

The 13-day cycling trip from Novi Sad to Strasbourg, France, aimed to garner support in the EU for monthslong student-led protests seeking justice for the 16 victims of a deadly train station canopy collapse in the city in November.

“We symbolically showed the determination and persistence of our generation to fight for a better tomorrow and a future that we deserve,” one of the students told the cheering crowd in Novi Sad.

The nationwide anti-graft movement led by the students has rattled increasingly authoritarian President Aleksandar Vucic. While they enjoy huge support at home and in the Balkan region, Serbia's protesting students feel they haven’t received enough backing from the EU.

Serbia is formally seeking membership in the 27-nation bloc but has been backsliding in democratic freedoms and the rule of law. The EU’s reaction to the mostly peaceful student-led protests has been lukewarm and officials have refrained from publicly criticizing Vucic.

While in Strasbourg, a student delegation met with officials from the European Parliament and the Council of Europe. Along the way, the Serbian students passed through Hungary, Slovakia, Austria and Germany before reaching France.

Many in Serbia blamed the Novi Sad train station canopy collapse on rampant corruption. The protesting students have been demanding punishment for those responsible for the Nov. 1 tragedy and an end to government pressure and violence against protesters.

A dog walks across a red carpet prior to a welcoming ceremony for 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

People welcome 80 Serbian university students who cycled more than 1,300 kilometers (780 miles) during last week, from Novi Sad to Strasbourg, France, to draw EU attention to their months-long protests against corruption, in Novi Sad, Serbia, Tuesday, April 22, 2025. (AP Photo/Darko Vojinovic)

Wall Street extended its gains to a ninth straight day Friday, marking the stock market’s longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April.

The rally was spurred by a better-than-expected report on the U.S. job market and resurgent hope for a ratcheting down in the U.S. trade showdown with China.

The S&P 500 climbed 1.5%. The Dow Jones Industrial Average added 1.4%, and the Nasdaq composite rose 1.5%.

The gains were broad. Roughly 90% of stocks and every sector in the S&P 500 advanced. Technology stocks were among the companies doing the heaviest lifting. Microsoft rose 2.3% and Nvidia rose 2.5%. Apple, however, fell 3.7% after the iPhone maker estimated that tariffs will cost it $900 million.

Banks and other financial companies also made solid gains. JPMorgan Chase rose 2.3% and Visa closed 1.5% higher.

Employers added 177,000 jobs in April. That marks a slowdown in hiring from March, but it was solidly better than economists anticipated. However, the latest job figures don’t yet reflect the effects on the economy of President Donald Trump’s across-the-board tariffs against America’s trading partners. Many of the more severe tariffs that were supposed to go into effect in April were delayed by three months, with the notable exception of tariffs against China.

“We’ve already seen how financial markets will react if the administration moves forward with their initial tariff plan, so unless they take a different tack in July when the 90-day pause expires, we will see market action similar to the first week of April,” said Chris Zaccarelli, chief investment officer for Northlight Asset Management.

The S&P 500 slumped 9.1% during the first week of April as Trump announced a major escalation of his trade war with more tariffs. The market has now clawed back its losses since then, helped by a string of resilient earnings reports from U.S. companies, hopes for de-escalation of trade tensions with China and expectations that the Federal Reserve will still be able to cut rates a few times this year.

The benchmark index is still down 3.3% so far this year, and 7.4% below the record it reached in February.

All told, the S&P 500 rose 82.53 points to 5,686.67. The Dow gained 564.47 points to 41,317.43, and the Nasdaq added 266.99 points to 17,977.73.

The job market is being closely watched for signs of stress amid trade war tensions. Strong employment has helped fuel solid consumer spending and economic growth over the last few years. Economists are now worried about the impact that taxes on imports will have on consumers and businesses, especially about how higher costs will hurt hiring and spending.

The economy is already showing signs of strain. The U.S. economy shrank at a 0.3% annual pace during the first quarter of the year. It was slowed by a surge in imports as businesses tried to get ahead of Trump’s tariffs.

The current round of tariffs and the on-again-off-again nature of Trump’s policy has overshadowed planning for businesses and households. Companies have been cutting and withdrawing financial forecasts because of the uncertainty over how much tariffs will cost them and how much they will squeeze consumers and sap spending.

Hopes remain that Trump will roll back some of his tariffs after negotiating trade deals with other countries. China has been a key target, with tariffs of 145%. Its Commerce Ministry said Beijing is evaluating overtures from the U.S. regarding the tariffs.

Investors had a relatively quiet day of earnings reports following a busy week. Exxon Mobil rose 0.4%, recovering from an early slide, after reporting its lowest first-quarter profit in years. Rival Chevron rose 1.6% after it also reported its smallest first-quarter profit in years.

Falling crude oil prices have weighed on the sector. Crude oil prices in the U.S. are down about 17% for the year. They fell below $60 per barrel this week, which is a level at which many producers can no longer turn a profit.

Block slumped 20.4% after reporting a sharp drop in first-quarter profit that fell short of analysts' forecasts. The financial technology company behind Cash App cited a pullback in consumer spending on travel and other discretionary items as a key reason for the results.

Treasury yields rose in the bond market. The yield on the 10-year Treasury rose to 4.31% from 4.22% late Thursday.

Trader Edward Curran works on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Trader Rob Taylor works on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Specialist Patrick King works on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Trader James Matthews, left, and specialist James Denaro work on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Specialist Glenn Carell, left, and trader Mathias Roberts, center, work on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Specialist Alex Weitzman works at his post on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Specialist Philip Finale, left, and trader Robert Charmak work on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Trader Niall Pawa works on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Specialist Michael Pistillo, left, and trader Fred Demarco work on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Specialists Meric Greenbaum, left, and Philip Finale confer on the floor of the New York Stock Exchange, Friday, May 2, 2025. (AP Photo/Richard Drew)

Specialist James Denaro works at his post on the floor of the New York Stock Exchange, Thursday, May 1, 2025. (AP Photo/Richard Drew)

Specialist Gregg Maloney works at his post on the floor of the New York Stock Exchange, Monday, April 28, 2025. (AP Photo/Richard Drew)