US STOCKS-Wall St ends higher as weak data reduces rate hike worries

lunes 6 de abril de 2015 16:39 GYT

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

* Tesla rallies after first-quarter sales data

* Indexes up: Dow 0.7 pct, S&P 0.7 pct, Nasdaq 0.6 pct (Updates to close)

By Caroline Valetkevitch

NEW YORK, April 6 (Reuters) - U.S. stocks rose on Monday as expectations the Federal Reserve could hold off longer on raising interest rates offset concerns over Friday's surprisingly weak jobs report.

The jobs report was well below expectations, with data showing U.S. employers last month added the fewest jobs in more than a year.

Underscoring the economic weakness, an ISM report on Monday showed the pace of growth in the U.S. services sector fell in March to its lowest level in three months.

"The weekend allowed market participants to see the positive side of the weak Friday (jobs) 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.

The Fed is expected to raise rates for the first time in almost a decade later this year if the economy, especially the labor market, keeps improving.   Continuación...