The strong jobs report also spurred a spike in Treasury yields and reduced expectations for the Federal Reserve to cut interest rates soon.

Stocks gain in a holiday-shortened session Thursday after a strong jobs report for June and as the House looks to vote on President Trump's tax-and-spending bill.

U.S. stock futures showed modest upward movement on Thursday as traders prepared for the release of June’s critical nonfarm payroll report. At the same time, market participants weighed the implications of the newly announced trade agreement between the United States and Vietnam.