Stocks Rise at the Open after Jobs Report

U.S. stocks edged up at the open on Friday, as investors digested a stronger-than-expected jobs report. the Dow Jones Industrial Average lately gained 32.36 points, or 0.21%, to 15,626.34. The S&P 500 was up 6.15 points, or 0.35%, to 1,753.30. The Nasdaq Composite rose 25.27 points, or 0.66%, to 3,882.60.

The U.S. economy added 204,000 jobs in October –— double Wall Street’s forecast — despite a government shutdown that was expected to put a damper on hiring. Hiring for September and August were revised up by a combined 60,000, the Labor Department said Friday.

Spending by U.S. consumers tapered off slightly in September, the government reported Friday. Consumer spending rose 0.2% in September, down from an unrevised 0.3% gain in August, the Commerce Department said.

McDonald’s Corp. (MCD:US), the world’s largest restaurant chain, said sales at stores open at least 13 months rose 0.5 percent in October as new items boosted sales in Europe and the U.S.

About the Author

has written 15958 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

You must be logged in to post a comment.

Copyright © 2012 Nine Stocks