Solid jobs report sends US stocks higher

THE Dow Jones Industrial Average has risen above 15,000 for the first time following a solid US jobs report.

At 1429 GMT on Friday (0029 AEST, Saturday), the Dow reached 15,000.54, up 173.96, or 1.17 per cent. The rise followed a US Labor Department report that showed the US economy added 165,000 jobs in April, well above market expectations.

Upward revisions for the prior two months also showed 114,000 more jobs were added than initially estimated.

The Standard & Poor's 500-stock index, a broad measure of the markets, earlier had topped 1600 points for the first time.

Among the Dow's blue-chip companies, the biggest gains came in industrial companies like Alcoa (up 2.4 per cent), Caterpillar (up 2.8 per cent), General Electric (up 2.3 per cent and 3M (up 2.3 per cent).

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