U.S. Stock Futures Surge On Better-than-expected Jobs Report

U.S. stock futures turned sharply higher early Friday after the closely watched jobs report showed that 287,000 jobs were created in June. Futures for the Dow Jones Industrial Average jumped 128 points, or 0.7%, to 17,937, those for the S&P 500 gained 15.25 points, or 0.7%, to 2,107, while the Nasdaq-100 futures rose 25 points, or 0.6%, to 4,477. The strength of the report helped to assuage investors' concerns that the employment picture was dimming following a May report that showed that the U.S. created just 38,000 jobs. Economists polled by MarketWatch had forecast a 170,000 increase in new nonfarm jobs. More broadly, the report helps to allay some fears about the strength of the U.S. economy at a time when the U.K.'s decision to exit the European Union, dubbed Brexit, has roiled global markets.