Wall Street advances as jobs report beats estimates

Special
Report: Global Financial Crisis

NEW YORK, May 6 (Xinhua) -- Wall Street climbed in early trading Tuesday,
as economic data indicated job losses slowed in April.

The ADP employer services reported that companies in the United States cut
an estimated 491,000 workers from payrolls in April, smaller than economists'
forecast and the fewest since October.

The report boosted investors' confidence and offset worries that banks may
need more capital than previously thought.

The market was awaiting the results of the government's stress test of the
nation's 19 largest banks, due Thursday. The report is expected to reveal which
banks will need to raise capital.

Concerns about the stress test intensified after The New York Times
reported Wednesday that federal regulators have warned Bank of America Corp.
that it will need to raise about 34 billion U.S. dollars, more than
expectations.

The Dow Jones rose 89.60 to 8,500.25. Broader indexes also moved higher.
The Standard Poor's 500 index rose 10.07 to 913.87;and the Nasdaq climbed
14.91 to 1,769.03.