US equity futures jump as jobs growth cools

S&P 500 futures are up 57 points, or 1.1% ahead of the open while Nasdaq futures are up 1.5% and Russell 2000 futures up nearly 2%.

The market is cheering a softer US jobs report that saw the unemployment rate tick higher to 3.9% from 3.8%. That led to broad weakness in the US dollar, falling Treasury yields and higher stock markets as softer jobs will eventually given the Federal Reserve room to lower rates.

S&P 500 futures has risen above the late-April highs, which is a positive technical sign.