The U.S. government reported that 236,000 jobs were added to the economy in February, and the unemployment rate dropped to 7.7% from 7.9%. That was much better than the 170,000 and 7.8% expected by economists surveyed by CNNMoney.
The strengthening U.S. economy, and particularly job growth, has helped push stocks to new highs.
Online music streaming firm Pandora Media(P) reported better-than-expected quarterly sales and announced that its CEO will be stepping down. Pandora's shares soared in premarket trading.
TransCanada CEO defends Keystone pipeline
Athletic shoe retailer Foot Locker(FL) reported a significant increase in sales and profit for the fourth quarter. But its stock dipped 4% in premarket trading.
Citigroup's(C) shares gained more than 2% in premarket trading, following news that the bank passed the Fed's stress test to gauge if it could weather another recession. Morgan Stanley (MS),JPMorgan(JPM) and Goldman Sachs Group(GS) also passed the tests.