Stocks Opened Higher on Unemployment Data

U.S. stocks opened higher on Friday, after data showed that jobless rate in U.S. fell to 5.9%, lowest Since July 2008 The Dow Jones industrial average lately rose 122.46 points, or 0.73%, to 16,923.51. The S&P 500 gained 14.23 points, or 0.73%, to 1,960.40. The Nasdaq Composite added 0.27 points, or 0.68%, to 4,460.46.

The nation’s unemployment rate fell below 6% in September for the first time in six years. The rate came in at
5.9%, while employers added 248,000 jobs last month.

The U.S. trade gap unexpectedly narrowed in August to its smallest level in seven months on an increase in exports, supporting views of sturdy economic growth in the third quarter. The Commerce Department said on Friday the trade gap narrowed 0.5 percent to $40.1 billion. July’s trade deficit was revised to $40.3 billion.

JPMorgan (JPM) now says hackers had access to the personal records of 76 million households and 7 million small businesses in the U.S. Hackers obtained access to names, addresses, email accounts and any internal information. Various sources are reporting hackers had the highest administrative level access to dozens of JP
Morgan servers.

Switzerland’s largest bank UBS (UBSN.VX) could face a fine of up to $6.3 billion (3.91 billion pounds) if found guilty in an investigation in France into whether it helped wealthy customers there avoid tax, a Swiss newspaper reported on Friday.

General Motors Co. announced two new recalls Friday covering almost 524,400 cars in North America, suggesting
the auto maker is still struggling to meet new quality standards instituted by the company in the wake of its ignition-switch fallout.

Mylan Inc. (MYL) announced that it expects third quarter adjusted diluted earnings per share to be in the range of $1.12 to $1.16 per share, an increase from the previously communicated third quarter range of $0.90 to $0.95 per share.

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