Comment
0
Tweet
0
Print
RSS Feeds

Futures leap after surprisingly strong jobs report

Friday - 7/5/2013, 9:48am  ET

A security person stands guard at a main entrance of the Tokyo Stock Exchange in Tokyo, Friday, July 5, 2013. Optimism that easy European and U.S. monetary policy will continue boosted Asian stock markets Friday as investors awaited a key American jobs report later in the day. Tokyo's Nikkei 225 was up 1.8 percent to 14,272.45. (AP Photo/Itsuo Inouye)

NEW YORK (AP) -- Stock futures rose sharply Friday after the U.S. reported stronger-than-expected hiring for June.

Dow Jones industrial futures rose 192 points to 15,108. The broader S&P futures tacked on 21 points to 1,630. Nasdaq futures added 33.75 points to 2,970.25.

U.S. employers added 195,000 jobs last month, the Labor Department said, and hiring for April and May was revised higher.

The revisions are important because they suggest that job growth, which has come in fits and starts, is accelerating.

The report sent the dollar rocketing higher and stock futures extended their gains.

The price for a barrel of crude also climbed with the prospect of an economy on the mend and in need of more energy.

The unemployment rate remained at 7.6 percent, however, which leaves open the door for extended stimulus measures that have been undertaken by the U.S. Federal Reserve.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.