US stock indices rose during Monday trading as Wall Street attempted to recover from the losses it suffered last Friday due to weak employment data.
Government data revealed that the US economy added 73,000 jobs in July, compared to expectations of 100,000 new jobs.
Figures for May and June were also revised sharply lower, with a total downward revision of 258,000 jobs compared to initial estimates. June’s data was revised to 14,000 jobs from 147,000, and May’s to 19,000 from 144,000.
The government data also showed that the US unemployment rate rose to 4.2% last month from 4.1%, in line with expectations.
In response to this data, President Donald Trump questioned the drop in US job numbers, dismissed the head of the Bureau of Labor Statistics, and cast doubt on her intentions, claiming it was aimed at weakening Republicans in the elections.
As for trading, the Dow Jones Industrial Average rose by 1.0% (equivalent to 433 points) to 44,022 points as of 16:49 GMT. The broader S&P 500 index climbed by 1.1% (equivalent to 70 points) to 6,308 points, while the Nasdaq Composite rose by 1.5% (equivalent to 314 points) to 20,964 points.
