Business

US shares rise after weak jobs report

NYSE traders Image copyright AP

(Close): Wall Street markets rose slightly on Friday as the price of oil climbed and investors shook off a poor April jobs report.

The Dow Jones Industrial Average rose 79.92 points, or 0.45%, to 17740.63.

The S&P 500 climbed 6.51 points, or 0.32%, to 2057.14 and the Nasdaq gained 19.06, or 0.4%, to 4736.16.

The US Department of Labour reported the economy added 160,000 jobs in April, analysts had been expecting more than 200,000 additional posts.

The rising price of crude oil following Thursday's gains, however, helped lift stocks.

The price of West Texas Intermediate crude rose 26 cents to $44.59 a barrel.

The price jumped on Thursday after producers around the Canadian city of Fort McMurray closed or cut output in response to a wildfire.

Shares of Chevron edged up 0.44% and Exxon Mobile nudged 0.53% higher.

The online review site Yelp was one of Friday's biggest winners. Its share price rose 23.7% after beating earnings expectations on Thursday.

A major faller was mobile payment company Square fell 21.7% after the company reported a bigger than expected first quarter loss.