U.S. Stocks Rally on Strong Jobs Report

The U.S. stock market experienced gains as a robust jobs report alleviated concerns over economic health amidst a global trade conflict. Nonfarm payrolls surpassed expectations, with an increase of 177,000 in April, while the unemployment rate held steady at 4.2%. Stock index futures reacted positively.

The U.S. stock market rallied on the back of a stronger-than-anticipated jobs report, which eased investor concerns over the labor market's stability amid ongoing global trade tensions.

According to the Labor Department, nonfarm payrolls rose by 177,000 in April, substantially exceeding the forecasted increase of 130,000 as per a Reuters poll of economists. Meanwhile, the unemployment rate remained unchanged at 4.2%, aligning with forecasts.

By 08:30 a.m. ET, the response was evident in the markets, with Dow E-minis climbing 299 points (0.73%), S&P 500 E-minis rising 42.25 points (0.75%), and Nasdaq 100 E-minis increasing 139.5 points (0.70%).

(With inputs from agencies.)