U.S. stocks open higher after strong jobs data

U.S. stocks opened higher Monday as investors continued to digest the much-better-than-expected June nonfarm report.

U.S. total nonfarm payroll employment increased by 287,000 in June, well above market consensus of 175,000, and the unemployment rate rose to 4.9 percent, the U.S. Labor Department reported Friday.

Investors believed that the nonfarm report mollified concerns of an economic slowdown in the United States, as May's payroll rose only by 38,000 and notched the fewest monthly job gain in almost six years.

Wall Street also hoped that Japan's upper house election win for the ruling coalition will lead to further economic stimulus measures.

On Sunday, Japan's ruling coalition won a landslide victory in upper house elections. Analysts thought that this makes it likelier Prime Minister Shinzo Abe will be able to push through further monetary easing measures.

Following the news, Japanese 225-issue Nikkei Stock Average surged 3.98 percent to 15,708.82 points Monday.

Shortly after the opening bell, the Dow Jones Industrial Average rose 72.11 points, or 0.40 percent, to 18,218.85. The S&P 500 added 7.22 points, or 0.34 percent, to 2,137.12. The Nasdaq Composite Index was up 26.52 points, or 0.53 percent, to 4,983.27.

On Friday, U.S. stocks posted solid gains as the newly-released nonfarm report far exceeded market expectations. Endi