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After an hour of trade, the Dow Jones Industrial Average was up 164,77 points (1,10 percent) to 15 205,39.
The broad-based S&P 500 put on 0,94 percent to 1 637,88, while the tech-rich Nasdaq Composite Index added 0,75 percent to 3 449,85.
The jobs data — which showed more people returning to the workforce as well — sent the dollar and bond yields higher as traders took it as strong enough to expect the Federal Reserve to begin pulling back on its aggressive bond-buying programme later this year.
Stocks, which had fallen in recent weeks on that same view and the bond market’s expectation of higher interest rates, however, also greeted the news positively.
Briefing.com analyst Patrick O’Hare said the jobs report “reflects improvement in the economy, but not so much improvement as to suggest the Fed will alter its policy course”.
A market note from Charles Schwab & Co characterised the jobs report as something “lukewarm” that was “tempering Federal Reserve asset purchase tapering talk.”
Shares of Iron Mountain, the data storage and management firm, plunged 17.2 percent amid tax regulator questions about its plan to convert into a lower-tax real estate investment trust.
Data-handling competitor Equinix, also with plans to become a REIT, lost 6,4 percent.
Walmart shares rose 1,4 percent after the world’s largest retailer announced a US$15 billion share repurchase program, renewing an earlier buyback.
Monsanto, whose shares had stumbled amid fresh controversy over its genetically modified seeds programme, jumped 2,5 percent after it announced a US$2 billion share repurchase programme.
Clothier Gap rose 2,1 percent, helped by news that May sales were up 11 percent from last year.
Bond prices fell. The yield on the 10-year US Treasury rose to 2,12 percent from 2,08 percent last Thursday, while the 30-year gained to 3,30 percent from 3,26 percent. Bond prices move inversely to yields. —AFP.
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