Stocks Opened Higher on Jobs Data

U.S. stocks opened higher on Friday after the latest jobs data showed strength in the U.S. economy and bolstered the case for a December interest rate hike. The Dow Jones Industrial Average lately rose 38.65 points, or 0.16%, to 24,250.13. The S&P 500 gained 8.56 points, or 0.32%, to 2,645.54. The Nasdaq Composite added 45.53 points, or 0.67%, to 6,858.37.

Oil prices edged up on Friday, helped by rising Chinese crude demand and threats of a strike in Africa’s largest oil exporter. By 1039 GMT, Brent crude was up 39 cents at $62.59 a barrel. U.S. West Texas Intermediate crude was at $56.07 a barrel, up 38 cents from their last settlement.

The Labor Department released its official hiring and unemployment figures for November on Friday morning. The U.S. economy added 228,000 jobs in November, , more than expected by economists, while the unemployment rate held steady at 4.1%.