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.

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