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Wall Street stocks end higher

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US private payrolls data exceeds expectations

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Bitcoin up after Tuesday's losses

(Updates with closing US market levels)

By Caroline Valetkevitch

NEW YORK, Nov 5 (Reuters) - Major stock indexes gained

on Wednesday as corporate earnings and U.S. private payrolls

data were stronger than expected, while Treasury yields surged

following the day's economic data.

U.S. private payrolls increased by 42,000 jobs in October,

exceeding expectations of a 28,000 gain, according to a Reuters

poll of economists. However, some industries such as

professional business services shed jobs for a third straight

month.

Aside from the private payrolls numbers, data showed U.S.

services sector activity picked up in October amid a solid

increase in new orders.

A congressional impasse has resulted in what is now the

longest-ever U.S. government shutdown, which has forced

investors and the data-dependent Federal Reserve to rely on

private sector indicators.

An index of semiconductors was up 3% after falling

sharply on Tuesday. Shares of Advanced Micro Devices ( AMD )

ended 2.5% higher after the company late Tuesday gave an upbeat

revenue forecast. Among other earnings reports, drugmaker Amgen ( AMGN )

reported a profit that beat estimates and its shares

gained 7.8%.

"Today is a bit of a relief rally you might say," said Peter

Cardillo, chief market economist at Spartan Capital Securities

in New York.

"The ADP numbers... suggested that maybe if these numbers

align with the official numbers - when they finally do come out

- and that perhaps the fear over the jobs market may have been

somewhat overstated," he said, referring to the ADP National

Employment Report.

Investors were also paying close attention as U.S. Supreme

Court justices raised doubts over the legality of U.S. President

Donald Trump's sweeping tariffs in a case with implications for

the global economy.

The Dow Jones Industrial Average rose 225.76 points,

or 0.48%, to 47,311.00, the S&P 500 rose 24.74 points, or

0.37%, to 6,796.29 and the Nasdaq Composite rose 151.16

points, or 0.65%, to 23,499.80.

Analysts now see aggregated S&P 500 earnings growth of 16.2%

year-on-year for the July-September period, more than double the

growth expectations at the beginning of the quarter, according

to LSEG.

MSCI's gauge of stocks across the globe rose

1.07 points, or 0.11%, to 997.89.

The pan-European STOXX 600 index rose 0.23%.

Enthusiasm for generative artificial intelligence has swept

across stock markets worldwide this year, drawing comparisons to

the dotcom bubble.

U.S. Treasury yields rose after the data surprises showed

continued economic resilience.

The Treasury Department on Wednesday said it expected to

keep its nominal coupon and floating rate note auction sizes

steady for at least the next several quarters, but was beginning

to consider future increases.

Benchmark 10-year yields rose by nearly seven

basis points to 4.159%.

The dollar was little changed against major currencies. The

dollar has strengthened against the euro since last week when

the Fed cut interest rates by 25 basis points and Fed Chair

Jerome Powell said a December cut was not a foregone conclusion.

The dollar index, which measures the greenback

against a basket of currencies including the yen and the euro,

fell 0.01% to 100.16.

Sterling was about flat on the day versus the dollar.

The Bank of England meets on Thursday, and with market pricing

showing a roughly one-in-three chance of a 25-basis point rate

cut, whatever the BoE decides could cause a knee-jerk reaction

in the pound.

Leading cryptocurrency bitcoin rose 3% to around

$103,144, after bouncing back from earlier losses. It slid 6.1%

on Tuesday to below $99,000 for the first time since June 22.

Oil prices fell as worries about global oversupply

overshadowed data showing signs of strong U.S. demand for fuel.

U.S. crude fell 96 cents to settle at $59.60 a barrel and

Brent fell 92 cents to $63.52.

(Additional reporting by Amanda Cooper in London and Gregor

Stuart Hunter in Singapore; Editing by Peter Graff, Hugh Lawson

and Deepa Babington)