U.S. stocks rose on Monday as expectations the Federal Reserve could hold off longer on raising U.S. interest rates offset concerns over Friday's surprisingly weak monthly jobs report.
The jobs report came in well below expectations, with data showing U.S. employers last month added the fewest jobs in over a year. U.S. stock markets were closed for the Good Friday holiday.
Underscoring the economic weakness, an ISM report on Monday showed the pace of growth in the U.S. services sector fell in March to its lowest level in three months.
"The weekend allowed market participants to see the positive side of the weak Friday (jobs) number, which is that rates probably aren't going to rise very quickly," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.
The Fed is expected to raise U.S. interest rates later this year for the first time in almost a decade if the economy, especially the labor market, keeps improving.
