Stock futures rise sharply after strong jobs news

NEW YORK (AP) — U.S. stock futures were pointing to a strong open today after the government said employers added 175,000 jobs in February, far more than expected.

The Dow Jones industrial average futures rose 85 points to 16,500 as of 8:55 a.m. Eastern time. The Standard & Poor's 500 index futures were up 10 points to 1,886 and the Nasdaq futures rose 16 points to 3,738.

The Labor Department's report was much better than expected. Economists had been expecting the February data to show an increase of 145,000 jobs, according to data from FactSet. Investors had low expectations because of winter storms that hit much of the country last month. The positive job figures were a relief because the harsh weather closed factories, lowered auto sales, and caused existing-home sales to plummet.