The U.S. Wall Street market rose after a week of declines.
The major indexes rose, supported by the U.S. nonfarm payrolls report for May, which recorded an increase of 139,000, better than the forecast of 126,000, but slightly down from 147,000 in April.
The S&P 500 index rose 1.03%, the Dow Jones strengthened 1.05%, while the technology-focused Nasdaq rose 1.20%.
The development indicates continued demand for labor with an addition of 130,000 jobs, thus stimulating economic growth and driving the business sector.
This situation makes the Federal Reserve (Fed) in no hurry to cut interest rates with the first cut expected to occur in September and another by December, following the strengthening of the labor market.
In the spotlight earlier in the week, US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are set to meet with top Chinese officials in London on June 9 to discuss tariffs.
The talks come after US President Donald Trump and Chinese President Xi Jinping agreed to hold amicable talks to ease tariff tensions between the two countries in a phone call last week.
Investors were pleased with the positive development in talks between Washington and Beijing after the two countries agreed to hold trade agreement talks.
In other developments, shares of electric car (EV) manufacturer Tesla rose 3.8% after falling 15% following tensions between Trump and CEO Elon Musk, including threats to cancel government contracts with Musk's company.
US stock market trading volume recorded $14.5 billion compared to an average of $17.8 billion over the full 20 trading days.
