Futures climbed higher after investors interpreted stabilization in the government’s employment situation report.
The U.S. Labor Department reported that nonfarm employers cut payrolls by 345,000 last month, well below the 525,000 drop that was expected. The previous month was also revised lower to show fewer jobs were lost than initially reported. The unemployment rate, however, jumped more than expected to 9.4% from 8.9%, the highest since 1983.
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