Wall St buoyed by reports hike maybe delayed - New York Report

EXPECTATIONS that the Federal Reserve could hold off longer on a rate hike pushed stocks higher yesterday, offsetting concerns over Friday’s surprisingly weak jobs report.

The jobs report was lower than thought, with data showing US employers last month added the fewest jobs in more than a year.

The Dow Jones industrial average rose 117.61 points, or 0.66 per cent, to 17,880.85, the S&P 500 gained 13.66 points, or 0.66 per cent, to 2,080.62 and the Nasdaq Composite added 30.38 points, or 0.62 per cent, to 4,917.32.

The lackluster economic data also eased some concerns that the US dollar would continue to strengthen and pressure the earnings of companies with international exposure.