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Wall Street stocks higher, led by Nasdaq

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US private payrolls data exceeds expectations

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Bitcoin up after Tuesday's losses

(Updates to late afternoon)

By Caroline Valetkevitch

NEW YORK, Nov 5 (Reuters) - Stock indexes gained on

Wednesday as technology-related shares rebounded and as U.S.

private payrolls data was stronger than expected, while Treasury

yields gained.

U.S. private payrolls rose 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.

The private payrolls data is being closely examined given the

U.S. government shutdown and ongoing worries about weakness in

the labor market. U.S. President Donald Trump again called for

Republican senators to terminate the filibuster rule in a bid to

end what is now the longest government shutdown in history.

The Nasdaq was more than 1% higher in late-afternoon

trading. An index of semiconductors was up 3.9% after

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

were up 3.2% after the company late Tuesday gave an

upbeat revenue forecast.

"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.

Adding to optimism is the possibility of the U.S. federal

government shutdown ending, he said.

The Dow Jones Industrial Average rose 291.82 points,

or 0.62%, to 47,377.06, the S&P 500 rose 52.37 points, or

0.77%, to 6,823.92 and the Nasdaq Composite rose 267.47

points, or 1.15%, to 23,616.11.

MSCI's gauge of stocks across the globe rose

4.10 points, or 0.41%, to 1,000.92.

The pan-European STOXX 600 index rose 0.23%.

Asia stocks were hit hard overnight, pushing Japan's Nikkei

down nearly 7% from Tuesday's record highs at one point, while

shares in South Korea plunged as much as 6.2% before clawing

back some losses to be down 2.9%.

Enthusiasm for generative artificial intelligence has swept

across stock markets worldwide this year, drawing comparisons to

the dotcom bubble.

The dollar was little changed. The currency has firmed against

the euro since last week when the Federal Reserve cut interest

rates by 25 basis points and Fed Chair Jerome Powell said a

December cut was not a foregone conclusion.

The euro was last up 0.02% at $1.1484. Against the

Japanese yen, the dollar strengthened 0.27% to 154.08.

Leading cryptocurrency bitcoin gained 4.01% to

$104,322.93 after bouncing back from earlier losses. It slid

6.1% on Tuesday to below $99,000 for the first time since June

22.

U.S. Treasury yields were higher after the data surprises showed

continued economic resilience.

The yield on benchmark U.S. 10-year notes rose 7

basis points to 4.161%, from 4.091% late on Tuesday.

Spot gold rose 1.4% to $3,986.99 an ounce.

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)