US stocks open higher despite historic job losses, Dow up 1.4%

The broad-based S&P 500 climbed 1.2 percent to 2,914.73, while the tech-rich Nasdaq Composite Index was up 0.9 percent to 9,055.55. (Credit: Reuters Photo)

Wall Street stocks gained in opening trading Friday, shrugging off April employment figures that showed an unprecedented spike in job losses and unemployment.

Shortly after the opening bell, the Dow Jones Industrial Average stood at 24,209.65, up 1.4 percent.

The broad-based S&P 500 climbed 1.2 percent to 2,914.73, while the tech-rich Nasdaq Composite Index was up 0.9 percent to 9,055.55.

The gains were the latest instance of markets looking at economic reports that are bad, but not significantly different than expected, and focusing on positive news, such as the gradual restart of economic activity in some parts of the US and Europe.