U.S. equities futures moved sharply higher after a July jobs report indicated that the country created the most jobs in five-months time. Futures on the Dow Jones Industrial Average rose 119 points to 12,950, while, the broader S&P futures gained 14.6 points to 1,376.50. Futures on the tech-heavy Nasdaq added 31.75 points to 2,650.25. The U.S. created 163,000 jobs for the month of July, though unemployment inched slightly higher to 8.3%, from 8.2%. The Dow Jones rose by 40 points seconds after the employment report was released, which is a clear indication that the markets are finally seeing some relief after several dismal months. The economy added 75,000 jobs on average for the period between April and June, which is a sharp drop from the 226,ooo jobs that were created in the first three months of the year. While, the employment report was somewhat mixed, market participants are desperately trying to find any signs of the U.S. economy picking up. The monthly jobs report is monitored even more closely by market participants now that the U.S. elections are approaching.
