U.S stock futures open higher on Friday. The Dow Jones Industrial Average rose 208.96 points (0.86%) to 24,624.8 as of 11:00 a.m. EST. The S&P 500 climbed 26.21 points (0.97%) to 2,731.48. The Nasdaq Composite gained 95.45 points (1.28%) to 7,537.56. The small-cap benchmark Russell 2000 added 11.37 points or (0.70%) to 1,644.98.
Last Month, the Dow Jones advanced 2.11%, the S&P 500 added 2.68% and the Nasdaq Composite climbed 5.25%.
News in Focus
Investors assessed implications of a stronger-than-expected May jobs report.
The U.S. labor market remains strong with 223,000 new jobs created in May, which pushed the unemployment rate down to an 18-year low of 3.8%. Wage growth was modest, with the yearly rate of pay rising to 2.7% from 2.6%.
Earlier, futures showed little reaction when President Donald Trump tweeted that he was “looking forward” to the jobs figures.
Receding fears about political upheaval in Italy also helped boost sentiment, with shares in Europe rallying in the morning hours.
Stocks to Watch
Big Lots, Inc (BIG) Shares fell after Reports Fiscal First Quarter Earnings
Abercrombie & Fitch Co (ANF) Stock’s Performance for the Week is not Satisfactory
Select Bancorp Inc. (SLCT), shares rose 0.46 percent, IntelliPharmaCeutics International Inc. (IPCI), shares fell 1.20 percent and Forward Industries, Inc. (FORD), 0.10 percent up are because of report quarterly results after the market close.
Global Markets under Review
Shares in Asia closed mixed, with China’s Shanghai Composite Index ending 0.66% lower as the long-awaited introduction of Chinese shares to MSCI indexes failed to make a splash. The Chinese benchmark rallied 1.8% on Thursday in anticipation of the MSCI debut.
In Europe, Italian stocks led the charge higher with a 1.44% rally. Concerns over Italy’s political drama triggered shock waves in the financial markets on Tuesday, but the nerves have since subsided.
The yield on 10-year Italian government debt on Friday morning was down 30 basis points at 2.552%, after reaching a four-year high of 3.072% on Tuesday.
Oil prices dropped -0.73%, while gold was slightly lower -0.46%.