Stocks Opened Lower after Jobs Report

U.S. stocks opened lower on Friday as investors remained fixated on the U.S. election, despite a solid October jobs report. The Dow Jones Industrial Average lately fell 13.52 points, or 0.08%, to 17,917.15. The S&P 500 was up 0.56 point, or 0.03%, to 2,089.22. The Nasdaq Composite shed 12.14 points, or 0.04%, to 5,056.27.

The U.S. added 161,000 new jobs in October and the unemployment rate fell below 5% again. The increase in hiring last month, along with stronger job gains in August and September than previously reported, shows the seven-year-old economic recovery still has plenty of life despite a slowdown in growth earlier in the year.

The U.S. trade deficit plunged 10% in September to a 19-month low, aided by a fourth straight increase in exports that gave the economy a boost in the third quarter. The nation’s trade gap shriveled to $36.4 billion from a revised $40.5 billion in August, the government said Friday.

U.S. product safety officials announced a recall affecting 2.8 million Samsung Electronics Co. washing machines, in another blow to the company’s reputation.

Oil futures traded flat to slightly lower Friday, with market sentiment remaining cautious as major crude producers have made little progress on a proposed deal to cut output. West Texas Intermediate crude for delivery in December traded at $44.62 a barrel, down 4 cents, or 0.1%. January Brent crude fell 14 cents, or 0.3%, to $46.21 a barrel.

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