Stocks Jumping After Jobs Report Beats Expectations

The May jobs report was just released at 8:30 AM ET, and the numbers came in better than expected.

The change in nonfarm payrolls was 175,000, better than the 163,000 expected by market economists. The unemployment rate, on the other hand, edged up to 7.6%, versus expectations for an unchanged reading at 7.5%.

Markets are volatile in the wake of the report. Gold and Treasuries initially plunged when the headlines crossed, but then spiked past pre-release levels and are now slightly lower again.

Meanwhile, stocks are rising. S&P 500 futures are trading around 1633 versus levels around 1626 prior to the release, and are now up 0.6% on the day.

10-year Treasury futures are trading down 0.2%, and gold is trading down 0.7%.

The yield on the 10-year Treasury is 2 basis points higher at 2.10%.

Click here for all the details of today’s jobs release >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.