U.S. stocks rebounded from a selloff in futures after comments by a Federal Reserve official refocused investors on the implications for interest rate policy of last week’s employment data.
Energy and utility companies led the advance, with Hess Corp. and Halliburton Co. up at least 4.3 percent. Apple Inc. added 1.5 percent, while Coca-Cola Co. rose 2.2 percent amid gains in consumer stocks.
The Standard & Poor’s 500 Index gained 0.8 percent to 2,083.98 at 12:38 p.m. in New York after falling as much as 0.5 percent. The Dow Jones Industrial Average climbed 151.26 points, or 0.9 percent, to 17,914.50. The Nasdaq Composite Index added 0.7 percent.
Futures fell 1 percent on Friday after Labor Department data showed payrolls increased by 126,000 in March, the least since December 2013. The report is the latest of a number of economic releases to miss projections this year. While exchanges were closed for the Good Friday holiday.