U.S. stock-index futures extended a modest rise after a blockbuster March jobs report, though cash trading in equities — and most other markets — will remain closed due to the Good Friday holiday.
Futures on the Dow Jones Industrial Average
rose 193 points, or 0.6%, to 33,232, while S&P 500 futures
rose 24.60 ponts, or 0.6%, to 4,034.75 and Nasdaq-100 futures
were up 60 points, or 0.4%, at 13,376. Futures trading will close at 9:15 a.m. Eastern.
“We had another banging number today for the U.S. labor market. Clearly the economy is picking up significant steam and there is a lot of optimism.,” said Naeem Aslam, chief market analyst at AvaTrade, in emailed comments. “The data has helped the S&P 500 futures to move higher and it is likely that we are going to see continuation of this upward trend next week.”
The U.S. added 916,000 in March and the unemployment rate fell to 6% from 6.2%. Job growth was widespread in March, led by gains in leisure and hospitality, public and private education, and construction, the Labor Department report showed.
Economists surveyed by Dow Jones Newswires and The Wall Street Journal had looked for payrolls to rise by 675,000
Major stock index benchmarks, meanwhile, wrapped up a holiday-shortened week on Thursday, with the S&P 500
finishing above the 4,000 milestone for the first time. The S&P saw a 1.2% weekly gain, while the Dow Jones Industrial Average
rose 0.2% and the Nasdaq Composite
The U.S. Treasury market remained open for the jobs report, with Sifma advising a noon close for cash trade in bonds. The yield on the 10-year Treasury note
saw a modest reaction to the data, rising less than a basis point to 1.695%.
A backup in yields over the past several weeks have contributed to a rotation away from technology and other growth stocks toward more cyclically sensitive and value-oriented shares.