GLOBAL MARKETS-Stocks rise as growth shares gain on Wall St; dollar off highs

* U.S. stocks rise early; Nasdaq out front
* Dollar eases from 2-week high
* U.S. Treasury yields off earlier highs

(Updates throughout with U.S. market openings; previous LONDON)
By Caroline Valetkevitch
NEW YORK, May 5 (Reuters) - Stock indexes rose globally on
Wednesday, with the Nasdaq leading gains on Wall Street, while
the U.S. dollar eased off its more than two-week high hit
earlier.
Technology and growth stocks including Apple Inc AAPL.O
were among the biggest boosts to the Nasdaq.
Energy led S&P 500 sector gains following a rise in crude
oil prices. The S&P 500 energy index .SPNY was last up more
than 3%.
Investors across markets were also trying to position ahead
of Friday's U.S. monthly jobs report.
Tony Rodriguez, head of fixed income strategy at Nuveen,
said the Treasury market's real focus will be Friday's labor
report and the potential that an unexpectedly much higher or
lower number of job gains could move the market.
"I think it would have to be closer to 1.2 million (in jobs
gains) to have the market really feel like growth is
accelerating at a pace that's a little above what people
expected coming into this," Rodriguez said.
Stock indexes in Europe were boosted by upbeat earnings and
business activity.
Data showing euro zone business activity quickened last
month, while the services industry returned to growth.
The Dow Jones Industrial Average .DJI rose 157.65 points,
or 0.46%, to 34,290.68, the S&P 500 .SPX gained 21.78 points,
or 0.52%, to 4,186.44 and the Nasdaq Composite .IXIC added
82.54 points, or 0.61%, to 13,716.04.
The pan-European STOXX 600 index .STOXX rose 1.82% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.57%.
India's Nifty 50 .NSEI was 0.8% higher, its best day in a
week, as the central bank rolled out a series of measures to
support the coronavirus-ravaged economy, including allowing
certain small borrowers more time to repay loans. The dollar was near flat after moving off more than two-week
highs followed some softer-than-expected U.S. economic data.
U.S. private payrolls rose by the most in seven months in
April, ADP data showed on Wednesday, as companies boosted
production to meet a surge in demand amid massive government
spending and rising COVID-19 vaccinations. But the 742,000
private jobs created fell short of the 800,000 jobs expected by
economists in a Reuters poll. A separate report showed services industry activity eased in
April from a record level in March, likely due to shortages of
inputs amid a burst of demand, data from the Institute for
Supply Management showed.
The dollar index =USD rose 0.001%, with the euro EUR=
down 0.09% to $1.2002.
In the U.S. Treasury market, yields backpedaled from earlier
highs. An announcement of second quarter auction sizes and
economic data did not move the market out of its holding
pattern. The benchmark 10-year yield US10YT=RR , which hit a session
high of 1.626%, was last up less than a basis point at 1.5996%,
holding below a 14-month high of 1.776% reached on March 30.
Oil prices rose for a third day. Brent crude LCOc1 was up
59 cents at $69.47 a barrel, while U.S. West Texas Intermediate
(WTI) crude CLc1 rose 47 cents to $66.16.
Spot gold XAU= added 0.2% to $1,782.76 an ounce. U.S. gold
futures GCc1 gained 0.29% to $1,780.90 an ounce.

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