Stocks Opened with Slight Gains after Jobs Report

U.S. stocks opened with slight gains on Friday, after jobs report showed unemployment rate fell to 16-year low. The Dow Jones Industrial Average lately rose 1.03 points, to 21,145.21. The S&P 500 was off 0.71 point, to 2,429.35. The Nasdaq Composite gained 9.70 points, or 0.16%, to 6,256.53.

The unemployment rate in America is at a 16-year low. In May, the economy added 138,000 jobs and the unemployment rate fell to 4.3%, according to the latest data from the Bureau of Labor Statistics.

Premium athletic apparel maker Lululemon Athletica Inc on Thursday reported quarterly earnings that beat analysts’ forecasts and said it plans to shut down 40 Ivivva stores for young girls, sending shares up 10 percent. The company said it had adjusted profit of 32 cents per share in the first quarter ended April 30.

Brent crude tumbled below $50 on Friday, on worries that U.S. President Donald Trump’s decision to abandon a climate pact could spark more crude drilling in the United States, worsening a global glut. Benchmark Brent crude futures were off by nearly 3 percent at $49.14 per barrel at 6:34 a.m. ET, down $1.49 from the previous close. U.S. West Texas Intermediate crude futures fell $1.45 cents to $46.91 per barrel.