By Ovunc Kutlu
ISTANBUL (AA) - US stocks opened higher on Friday after report that showed a calming job market.
The Dow Jones jumped 501 points, or 1.31%, to 38,726. The S&P 500 was up 66 points, or 1.31%, to 5,130.
The Nasdaq, meanwhile, soared 330 points, or 2.1%, to 16,130.
American economy added 175,000 jobs in April, much less than market estimates, the Labor Department said earlier. The market expectation for nonfarm payrolls was to show a gain of 238,000 last month.
The calming jobs market raised hopes that the Federal Reserve may cut interest rates sooner than expected.
The VIX volatility index, also known as the fear index, plummeted 5.65% to 13.85. The 10-year US Treasury yield lost 1.5% to 4.500%.
The dollar index trimmed 0.4% to 104.90, while the euro increased 0.5% to $1.0779 against the greenback.
Precious metals were down, with gold falling 0.5% to $2,291 per ounce and silver losing 1.2% to $26.36 an ounce.
Oil prices lost more than 1%, as global benchmark Brent crude fell to $83.56 per barrel and US benchmark West Texas Intermediate crude at $78.70 a barrel.