Investing.com - U.S. stocks carried Friday's gains into Monday, as investors continued to cheer news that the U.S. economy added more than 200,000 new nonfarm payrolls in May for a fourth consecutive month.
At the close of U.S. trading, the Dow 30 rose 0.11%, the S&P 500 index rose 0.09%, while the NASDAQ Composite index rose 0.34%.
The Volatility S&P 500 index, which measures market volatility, was up 2.70% at 11.02.
The U.S. Labor Department reported Friday that the economy added 217,000 in May, close to market expectations for a 218,000 increase, after a 282,000 rise in April, whose figure was revised down from a previously estimated 288,000 gain.
The private sector added 216,000 jobs last month, exceeding expectations for a 210,000 gain, which drew market applause.
The report also showed that the U.S. unemployment rate remained unchanged at 6.3% last month compared to expectations for a rise to 6.4%.
U.S. stocks also applauded for a second day the European Central Bank's decision to cut its benchmark interest rate on Thursday to a record-low 0.15% from 0.25%, cut its deposit rate to -0.1% and said it will support the banking sector to spur lending via targeted long-term credit injections.
Many U.S. companies are significantly exposed to European markets, and lower borrowing costs in Europe sent stocks rising in the U.S.
The yield on Spain’s 10-year bonds fell to 2.6% on Monday, falling below their U.S. equivalent which was yielding 2.61%. The yield on Ireland’s 10-year bonds fell to a euro-era record low of 2.61% while the yield on German 10-year bonds fell to their lowest against their U.S. counterpart since 2005.
Leading Dow Jones Industrial Average performers included Walt Disney Company (NYSE:DIS), up 1.02%, United Technologies Corporation (NYSE:UTX), up 1.00%, and General Electric Company (NYSE:GE), up 0.94%.
The Dow Jones Industrial Average's worst performers included Intel Corporation (NASDAQ:INTC), down 0.94%, McDonald's Corporation (NYSE:MCD), down 0.58%, and Microsoft Corporation (NASDAQ:MSFT), down 0.54%.
European indices, meanwhile, ended the day higher.
After the close of European trade, the DJ Euro Stoxx 50 rose 0.33%, France's CAC 40 rose 0.17%, while Germany's DAX rose 0.21%. Meanwhile, in the U.K. the FTSE 100 rose 0.24%.