Stocks Opened Higher after Solid Jobs Report

U.S. stocks opened higher on Friday after the February payroll report showed more jobs added in the month than had been expected. The Dow Jones Industrial Average lately rose 59.87 points, or 0.29%, to 20,918.06. The S&P 500 advanced 9.66 points, or 0.41%, to 2,374.53. The Nasdaq Composite climbed 26.36 points, or 0.45%, to 5,865.17.

The U.S. economy added 235,000 jobs in February and the unemployment rate fell to 4.7%, , signaling steady growth ahead and all but assuring the Federal Reserve will raise interest rates soon.

Oil prices recovered a little on Friday after dropping to their lowest in more than three months, pressured by heavy oversupply despite OPEC-led production cuts. Brent crude oil was up 20 cents at $52.39 a barrel by 1320 GMT. U.S. crude was 20 cents higher at $49.48 a barrel.