US job growth beats expectations, stocks rise and Treasuries fall.

Global stocks rallied and US Treasuries sold off after US jobs data showed employers added 253,000 new jobs in April, exceeding expectations for 180,000. The report brightened the economic outlook and traders pared expectations of Federal Reserve easing after a long spate of rate hikes. Oil prices jumped on signs of economic strength, but remained on track for a weekly decline. Shares in US banks also rebounded after a rough week following the collapse of a third major bank.