U.S. Stock-Index Futures Rally After April Payrolls Report

May 02, 2014 8:32 am ET

May 2 (Bloomberg) -- U.S. stock futures rallied after data showed employers boosted payrolls in April by the most in two years and the jobless rate plunged to 6.3 percent.

Futures on the Standard & Poor’s 500 Index expiring in June climbed 0.3 percent to 1,883.8 at 8:31 a.m. in New York.

The 288,000 gain in employment was the biggest since January 2012 and followed a revised 203,000 increase the prior month that was stronger than initially estimated, Labor Department figures showed today in Washington.

The Federal Reserve said this week that the economy is perking up after stalling last quarter and that the job market is improving.

The equity index has risen 1.1 percent this week as company earnings from Merck & Co. to Sprint Corp. topped analyst estimates and the Fed said it would continue to trim the pace of bond purchases as the economy gains momentum.