US stock market opens higher with positive jobs data

By Ovunc Kutlu

ANKARA (AA) - Major indexes in the US stock market opened higher on Friday with positive jobs data.

The Dow Jones rose 83 points to 34,660 at 9.52 a.m. EDT (1352GMT) with chipmaker Intel and beverage firm Coca-Cola adding 1.3% each.

The S&P 500 increased 23 points to 4,213 as Tesla bounced back from a 5.5% loss on previous day to recover 2.5%.

The Nasdaq added 133 points, or 1%, to 13,747 with pharmaceutical company Moderna continuing its rally by rising another 3.3%.

The VIX volatility index was down 7.6% to 16.67. The yield on the 10-year US Treasury also fell 2.4% to 1.587%.

After rising for four consecutive days, the US dollar index, which shows the strength of the greenback against a basket of six other major currencies, declined 0.5% to 90.07.

Precious metals was on the rise as gold added 1.1% to $1,891 per ounce, and silver rose 1.3% to $27.8 an ounce.

Investors' optimism in the markets came after US economy added 559,000 jobs and the unemployment rate fell to 5.8% in May, according to the Department of Labor earlier.

Labor market in the country, however, is still weak and most analysts believe the Federal Reserve could have to wait longer beyond its June 15-16 meeting for a rate hike.

Bitcoin, on the other hand, was down 4.3% to $36,800 at the time with a strong selloff in cryptocurrencies, after Tesla CEO Elon Musk shared a heartbreak emoji on Twitter associated with Bitcoin.