The U.S. job market strengthened in July, a welcome piece of good news that sharply contrasted with Thursday's sell off on Wall Street and readings pointing toward an economic slowdown.
Employers added 117,000 jobs last month, well above the 18,000 jobs added in June, the government reported Friday.
After a shockingly weak jobs number the previous month and a spate of other negative economic readings that followed, many economists had been bracing for the worst from Friday's report.
Trading in U.S. stock futures, which point to the direction stocks will take when regular trading begins at 9:30 a.m. ET, surged after the report was released.
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