Equities Are on the Rise in the Pre-Market Following the April Jobs Report

United Asset Strategies |

U.S. stock futures are higher. Equities are on the rise in the pre-market following the release of the April jobs report. The report shows nonfarm payrolls increased 253,000 which beat estimates for an increase of 180,000. Additionally, the unemployment rate came in at 3.4%, dipping below the prior month reading of 3.5% and marking a new low. The labor force participation rate remained unchanged at 62.6% and average hourly earnings increased 0.5% month-over-month, surpassing the predicted of 0.3% growth. The reaction in the bond market is sending yields higher. Globally, European stocks are moving higher and Asian stocks finished the session mixed. Crude prices are making a strong move to the upside, while the dollar is gaining strength and gold prices are facing downward pressure.