US STOCKS-Wall St climbs as weak data reduces rate worries

lunes 6 de abril de 2015 14:02 GYT
 

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

* Tesla rallies after first-quarter sales data

* Indexes up: Dow 0.9 pct, S&P 0.9 pct, Nasdaq 0.8 pct (Updates to afternoon trading)

By Caroline Valetkevitch

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 Friday's surprisingly weak jobs report.

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

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.

Stocks started the day lower, then turned higher in late morning trading.

"The weekend allowed market participants to see the positive side of the weak Friday number, which is that rates probably aren't going to rise very quickly," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.   Continuación...