US equity markets opened with a positive bias on Thursday, buoyed by a softer-than-expected June jobs report that has recalibrated expectations for Federal Reserve policy.
The labor data, which showed job creation falling short of forecasts, suggests the economy is cooling at a pace that may reduce the central bank's urgency to raise interest rates.
This shift in the policy outlook provided a tailwind for risk assets at the open, with the Dow Jones Industrial Average and the S&P 500 posting early gains.
The market reaction underscores a growing consensus among investors that the Fed may pause or slow its tightening cycle if labor market weakness persists.
In Europe, sentiment was also constructive, with Germany's DAX index leading gains, rising 2.22% to trade at 25,597.54.
The broad-based rally in US equities follows a volatile week for technology shares, with improved sentiment helping to stabilize broader market indices.