Business

US markets rise on jobs figures

NYSE traders Image copyright BRYAN R. SMITH/AFP/Getty

US markets closed higher on Friday, as strong jobs data helped stocks bounce back from losses earlier in the week.

US employers added 222,000 jobs in June, the US Labor Department said. The figure was higher than expected, following a separate survey that had suggested weaker hiring.

The tech-heavy Nasdaq rose 1.04% to 6,153.08.

The Dow Jones hit 21,414.34, up 0.4% and the S&P 500 climbed 0.6% to 2,425.18.

All three indexes closed higher than they had a week prior.

Technology stocks, which had been under pressure after a surge earlier in the year, led the gains.

Amazon shares increased 1.4% on Friday after a report that its Prime subscriber service had attracted 85 million members in the US - more than a quarter of the country's population.

Apple, Microsoft, Apple and Netflix also all gained more than 1%.

Credit card companies - which stand to benefit if interest rates rise - were also among the winners, as the jobs gain boosted expectations that the Federal Reserve would maintain its plan to raise interest rates further.

Visa and American Express shares both climbed 0.7%.