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New York (AFP) – Wall Street stocks rose modestly early Friday as a solid March US jobs report eased fears over slowing growth and the risk of recession.

About 10 minutes into trading, the Dow Jones Industrial Average stood at 26,411.25, up 0.1 percent.

The broad-based S&P 500 also gained 0.1 percent to 2,883.14, while the tech-rich Nasdaq Composite Index advanced 0.2 percent to 7,909.52.

The Labor Department reported that the US added 196,000 net new positions for the month, well above expectations, while the jobless rate held steady at 3.8 percent.

Wall Street greeted the solid improvement in hiring after a weak February report, as well as a moderation in wage inflation that should discourage the Federal Reserve from shifting to a more hawkish posture on interest rates, said Briefing.com analyst Patrick O’Hare.

Disclaimer: Validity of the above story is for 7 Days from original date of publishing. Source: AFP.