Positive trend for Wall Street in the first hour of trading, after the declines of the last few sessions and today’s data on the labor market.
The S&P500 advanced 0.4% and the Nasdaq 0.5%, as did the Dow Jones.
Among individual stocks, Amazon rallied up to 10% after accounts and better-than-expected third-quarter revenue guidance, while Apple dipped below the $3 trillion market cap mark on a disappointing outlook.
Meanwhile, 10-year government bond yields fell eight basis points to 4.1%, away from their highest level since November, and the dollar weakened against all other major currencies.
The Bureau of Labor Statistics report showed that nonfarm payrolls increased by 187,000 last month, a similar increase to June. The unemployment rate fell to 3.5%, while average hourly wages rose 0.4% from June and 4.4% from a year earlier, both stronger than expected.
Federal Reserve Bank of Atlanta President Raphael Bostic said US job growth is slowing in an orderly fashion and there is no need to raise rates further to ease inflation.