Off the wire
• Marcos son to run for vice president in Philippines  • 1st LD Writethru: Pacific Rim countries reach deal on TPP free trade pact -- media  • 60 mln people in Africa at risk of hunger: Red Cross  • Exercise Trident Juncture 2015 underway: NATO  • Russian airstrikes in Syria destroy 9 IS posts: Defense Ministry  • Spain's consumer confidence rises in September  • Roundup: Chinese, Irish, Japanese scientists share 2015 Nobel Prize for physiology, medicine  • Pakistan's toll in Hajj pilgrimage stampede reaches 76  • Kenya, Tanzania vow to jointly combat terrorism, drug trafficking  • Atletico, Benfica face investigation for Champions League incidents  
You are here: 　 Home

U.S. stocks open higher on weak jobs data

Xinhua, October 5, 2015 Adjust font size:

U.S. stocks opened higher on Monday, as Wall Street believed that the possibility for the U.S. Federal Reserve to raise interest rate this year becomes lower following a weaker-than-expected jobs report on Friday.

Shortly after the opening bell, the Dow Jones Industrial Average gained 156.07 points, or 0.95 percent, to 16,628.44. The S&P 500 rose 19.13 points, or 0.98 percent, to 1,970.49. The Nasdaq Composite Index was up 39.53 points, or 0.84 percent, to 4,747.30.

U.S. total nonfarm payroll employment increased by 142,000 in September, well below market consensus of 203,000, the Labor Department announced Friday. The unemployment rate held at 5.1 percent in September.

Some analysts thought that a soft jobs report could give the Federal Reserve some reason to postpone rate hikes.

European equities were sharply higher on Monday after the weak jobs report, with major indices surging over 2 percent.

Tokyo stocks also rose 1.58 percent on Monday as investor sentiment was lifted by gains in U.S. equities before the weekend.

On the economic front, investors will eye on the ISM non-manufacturing report due later Monday.

Meanwhile, third-quarter earnings season will kick off later this week. Earnings are expected to decline around 4 percent for the S&P 500, according to Thomson Reuters.

U.S. stocks reversed deep losses to end sharply higher Friday, as investors were digesting the newly-released poor nonfarm payroll report. Endi