4 hours ago
Toru Hanai / Reuters
A man walks past a stock quotation board displaying Japan's Nikkei share average outside a brokerage in Tokyo July 5, 2013.
U.S. stocks climbed at the open on Friday, as investors cheered a better-than-expected June jobs report.
The Dow Jones Industrial Average opened higher, led by Bank of America.
The S&P 500 and the Nasdaq also rose at the open. The U.S. economy created 195,000 new non-farm payroll jobs in June, the Labor Department reported, after an upwardly revised 195,000 jobs were created in May and 199,000 were created in April.
The unemployment rate was unchanged at 7.6 percent as more people entered the labor market.
The jobs report means the economy is improving and it's on track to at least pick up a little bit of momentum, Robert Pavlik, Banyan Partners' chief market strategist, told CNBC.
"I think the market is going to continue to move higher even as we approach the July meetings," he said. But as it gets closer to September "the possibility that market gets a little bit worried about the move up in Treasury yields comes back into play."
The dollar jumped to a three-year high and 10-year Treasury yields pushed above 2.70 percent, the highest levels in nearly two years, after the jobs report.
Markets had been awaiting the jobs report for clues as to when the Federal Reserve would begin reducing its bond purchases. The Fed has said it expects to end its $85 billion monthly asset purchases when the unemployment rate drops to around 7 percent.
Other global central banks also added to the bullish tone on Wall Street. Yesterday, both the European Central Bank and the Bank of England offered forward guidance on policy for the first time, and said record-low interest rates would be maintained for a prolonged period.
(Read More: July 4: Independence Day for Europe's Central Banks?)
No major U.S. earnings are expected on Friday. Second- quarter earnings season will kick off with numbers from Dow component Alcoa on Monday.
?By CNBC's Justin Menza. Follow him on Twitter @JustinMenza.
? 2013 CNBC LLC. All Rights Reserved
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