Wall Street set to rise after strong jobs data

05/10/2012 - 13:40

NEW YORK (Reuters) - Stocks were set to rise on Friday after a report showed the economy added more jobs than expected last month and the unemployment rate dropped to a near four-year low in another indication that the labor market continues to recover.

S&P 500 futures rose 5.9 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures added 50 points and Nasdaq 100 futures rose 13 points.

(Reporting By Edward Krudy; Editing by Kenneth Barry)