US STOCKS-Wall St gains as weak jobs data seen delaying Fed rate rise

lunes 6 de abril de 2015 12:15 GYT

* U.S. services sector growth rate at three-month low -ISM

* Tesla rallies after first-quarter sales data

* Indexes up: Dow 0.71 pct, S&P 0.72 pct, Nasdaq 0.56 pct (Updates to midday)

By Rodrigo Campos

NEW YORK, April 6 (Reuters) - U.S. stocks rose on Monday as expectations the Federal Reserve will push any interest rate increases further into the year offset concerns over faltering economic growth spurred by a surprisingly weak jobs report on Friday.

Labor Department data showed U.S. employers last month added 126,000 jobs, the lowest in more than a year and well below expectations.

On Monday, New York Fed President William Dudley said the central bank will need to determine whether that jobs report foreshadows a more substantial slowing in the labor market, adding he expects the path of rate hikes to be "relatively shallow."

"That's why they took it as dovish," said Jim Paulsen, chief investment officer at Wells Capital Management in Minneapolis, of the market reaction to Dudley's words. "Traders are taking advantage of headlines to move the market around."

In other economic news, ISM data showed the pace of growth in the U.S. services sector fell in March to its lowest level in three months, while a measure from Markit showed the sector expanded in March at its fastest pace since August.   Continuación...