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Futures leap after surprisingly strong jobs report

July 5, 2013

NEW YORK (AP) — Stock futures rose sharply Friday after the U.S. reported stronger-than-expected hiring for June.

Dow Jones industrial futures rose 192 points to 15,108. The broader S&P futures tacked on 21 points to 1,630. Nasdaq futures added 33.75 points to 2,970.25.

U.S. employers added 195,000 jobs last month, the Labor Department said, and hiring for April and May was revised higher.

The revisions are important because they suggest that job growth, which has come in fits and starts, is accelerating.

The report sent the dollar rocketing higher and stock futures extended their gains.

The price for a barrel of crude also climbed with the prospect of an economy on the mend and in need of more energy.

The unemployment rate remained at 7.6 percent, however, which leaves open the door for extended stimulus measures that have been undertaken by the U.S. Federal Reserve.

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