LONDON, June 6 (Reuters) - U.S stock futures, the dollar and Treasury yields all gained on Friday after payrolls data slightly exceeded economists' forecasts, calming some investors' concerns after a run of weak economic data.
The print of 139,000 new jobs in May beat a consensus forecast of 130,000, but was down on a revised 147,000 for the prior month. A weaker reading would have added to concerns of stagflation and piled pressure on the Federal Reserve to ease policy.
"On its face, this shows an economy that's holding up under the weight of a trade war, but the details show plenty of cracks forming," Brian Jacobsen, chief economist at Annex Wealth Management, said.
The U.S. dollar was last up 0.5% against a basket of currencies , while the Nasdaq and S&P 500 futures were each up about 0.8%. ,
Futures markets pared the chance of a Fed rate cut in September to 63%, down from about 76% prior to the data.
The yield on benchmark U.S. 10-year notes was last up 7.7 basis points on the day at 4.472%.
European stocks were up by 0.1% .
Tesla shares clawed back some ground in pre-market trading after a public feud between President Donald Trump and billionaire Elon Musk, despite reports that the two would not talk on Friday as had been reported overnight.
Tesla shares had fallen 14% overnight to wipe off $150 billion in market value, after Trump threatened to cut off government contracts to Musk's companies.
Investors were also digesting whether a phone call between Trump and Chinese leader Xi Jinping on Thursday and the prospect of further talks would help to ease trade tensions between the world's two largest economies.
A meeting between U.S. and Chinese officials on trade is expected to take place within seven days, White House trade adviser Peter Navarro said on Friday.
"That's probably going to be the number one thing for markets in reality," said Jason da Silva, global investment strategy director at Arbuthnot Latham, adding any breakthrough could help fuel a market rally after months of high uncertainty.
Among other currencies, the euro fell 0.4% versus the dollar to $1.1392 , after the European Central Bank cut interest rates as expected on Thursday and hinted at a pause in its year-long easing cycle.
In commodities markets, oil prices gained with U.S. crude futures last up 0.4% at $63.63 a barrel. Gold prices dipped 0.1% to $3,349 an ounce.
Additional reporting by Stella Qiu in Sydney; Editing by Sam Holmes, Susan Fenton, Toby Chopra and Barbara Lewis
