US stocks rise after solid June jobs report

New York

Wall Street stocks rose early Friday after the Labor Department reported the US added a better-than-expected 222,000 jobs in June.
Despite the solid headline figure, the report showed that wage growth remains weak. Average hourly earnings rose four cents to $26.25, up 0.2 percent over May and 2.5 percent higher than June of last year—the same annual gain reported in May.
About 20 minutes into trading, the Dow Jones Industrial Average was at 21,386.47, up 0.3 percent.
The broad-based S&P 500 rose 0.3 percent to 2,417.58, while the tech-rich Nasdaq Composite Index advanced 0.6 percent to 6,125.02.
The gains marked a partial rebound from Thursday’s session, when US stocks fell broadly on worries about central banks moving to tighten monetary policy and uncertainty about the G20 summit in Germany.
Berkshire Hathaway dipped 0.1 percent after striking an all-cash deal to buy Texas transmission assets under Energy Futures Holdings bankruptcy.
The companies said the price of the transaction was $9 billion. The Wall Street Journal, citing an unnamed source, reported the total value of the deal at $18 billion, including debt.—AFP

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