US STOCKS-Wall St up as cyclical stocks gain after jobs report

viernes 6 de junio de 2014 10:08 GYT

* May payroll report shows pace of hiring remains solid

* Indexes extend recent rally, on track for strong week

* Hertz Global falls, to restate financial results

* Indexes up: Dow 0.3 pct, S&P 0.3 pct, Nasdaq 0.4 pct (Updates to open)

By Ryan Vlastelica

NEW YORK, June 6 (Reuters) - U.S. stocks rose on Friday, with major indexes extending a rally that has taken them to repeated records, after the May payrolls report provided the latest confirmation that economic conditions were improving.

The day's gains were broad and led by cyclical sectors, which outperform in times of economic expansion. Financials were the day's biggest gainers, up 0.5 percent, followed by consumer discretionary names, up 0.4 percent. The only S&P 500 sectors that fell on the day were telecom and utilities, both of which are defensive groups.

About 217,000 jobs were added in May, slightly fewer than expected, while the unemployment rate held steady at 6.3 percent. This is the first time job growth has topped 200,000 for four consecutive months since January 2000.

The S&P 500 is on track for its tenth rise of the past 12 sessions. If it ends at a record on Friday, which it is on track to do, that will mark its sixth record in the past seven sessions.   Continuación...