S&P 500 Index opens higher despite uninspiring NFP report

• Wall Street's main indexes trade in the positive territory on Friday.
• Technology shares post strong gains after the opening bell.
• US Nonfarm Payrolls rose by 559,000 in May vs 650,000 expected.

Major equity indexes in the US started the last day of the week in the positive territory despite the uninspiring May jobs report. As of writing, the Dow Jones Industrial Average was up 0.3% on the day at 34,670, the Nasdaq Composite was rising 0.82% at 13,640 and the S&P 500 was gaining 0.45% at 4,211.

The US Bureau of Labor Statistics reported on Friday that Nonfarm Payrolls increased by 559,000 in May. Although this reading fell short of the market expectation of 650,000, investors seem to be assessing it as a factor that would allow the Fed to delay taper talks.

Among the 11 major S&P 500 sectors, the risk-sensitive Technology Index is up 1.25% on the day. On the other hand, the Financials Index is posting small losses after the opening bell, pressured by a 2% decline in the 10-year US Treasury bond yield.

S&P 500 chart (daily)