The main US market indices opened higher on Friday as government job data showed employers adding payrolls for the second consecutive month in April.
The S&P 500 opened 0.44% higher at 7,369.24, tech-heavy Nasdaq Composite rose 0.7% to trade at 25,998.96, and Dow Jones Industrial Average opened 0.45% or over 200 points higher at 49,812.81.
Nonfarm payrolls rose 115,000 last month after a surge in March, according to Bureau of Labor Statistics data and unemployment rate was unchanged at 4.3%. Bloomberg median estimates had pointed to a 65,000 increase.
Major gains in chipmakers lifted the Nasdaq index which gained over 300 points and traded 1.22% higher at 26,121.06. Dow pared gains to trade 0.19% higher and S&P 500 traded 0.7% higher.
ALSO READ: US Jobs Up 115,000, First Back-to-Back Gain In Nearly A Year
The jobs report fuelled investors' faith in the US economy at a time where global cues surrounding the war have grown more and more uncertain. On the war front, Iranian media has reported that Tehran is currently reviewing Washington's peace proposal, while America expects a response today itself.
After the market opened, seven out of the 11 sectoral indices traded in the green, while four traded in the red. The information technology sector saw the sharpest gains on the back of a strong earnings season, whereas the energy sector led the decline on slipping crude oil prices.
Crude oil prices recovered slightly, with global benchmark brent crude trading 0.12% lower at $99.87 a barrel and the West Texas Intermediate trading 0.62% lower at $94.24 a barrel.
Major chipmakers like Micron Technology Inc. Advanced Micro Devices Inc., Intel Corp, and Nvidia Corp rebounded sharply sliding on Thursday.
MU's stock soared 10% to $707 on the back of strong earnings; AMD followed suit and jumped 6% to $433.18, Nvidia was trading 3% higher at $217.7, and Intel rose 5.4% $115.47.
Among the currencies, the Dollar Spot Index weakened and fell 0.2%, while euro rose 0.5% to $1.1779, the British pound rose 0.5% to $1.3622, and the Japanese yen rose 0.3% to 156.51 per dollar.
Bitcoin, the largest traded cryptocurrency, fell 0.3% to $79,663.48.
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