US job growth came in at 115,000 in April, more than double the level projected by analysts. Analysts welcomed the figures but warned of rising pressures on consumers due to inflation from spiking oil prices.

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1% to 49,664.74.

The broad-based S&P 500 gained 0.6% to 7,380.25, while the tech-rich Nasdaq Composite Index rose 1.1% to 26,088.71.

The jobs data is “telling you that the vast majority of people who want a job are able to find some”, said Interactive Brokers’ Steve Sosnick.

US secretary of state Marco Rubio said Washington was expecting a response from Iran on Friday to US proposals for a deal to end the conflict.

Following the start of the war with US-Israeli attacks on Feb 28, Iran largely closed the Strait of Hormuz, sending oil prices sharply higher.