US equity markets opened higher on Thursday, with the Dow Jones Industrial Average gaining 0.56% as investors reacted to a softer-than-expected June jobs report.
The data showed job creation fell short of forecasts, providing fresh ammunition for those betting on a dovish pivot from the Federal Reserve.
The broad-based rally extended to the Nasdaq Composite, which also posted early gains.
The market move comes after a volatile week for technology shares, with sentiment improving as the labor market data suggests the economy is cooling without tipping into a sharp slowdown.
This dynamic is widely viewed as the ideal scenario for the central bank to begin cutting interest rates.
Traders are now recalibrating their expectations for the Fed’s next policy meeting.