Stocks Opened Slightly Higher after Tepid Jobs Data

U.S. stocks opened slightly higher on Friday after the July jobs report came in below expectations. The Dow Jones Industrial Average lately advanced 34.13 points, or 0.12% to 25,360.29. The S&P 500 rose 1.80 points, or 0.06%, to 2,829.02. The Nasdaq Composite fell 0.55 point, or 0.01%, to 7,802.14.

Oil prices traded slightly higher early Friday in New York, with the international and domestic contracts offering a mixed picture of performance for the week during a period of choppy trade. September West Texas Intermediate crude rose 15 cents, or 0.2%, to $69.13 a barrel. October Brent crude added 20 cents, or 0.3%, to $73.67 a barrel.

U.S. companies create fewer jobs than expected in July. The U.S. economy added 157,000 jobs while the unemployment rate fell to 3.9%. Expectations were for the economy to add 193,000 jobs with the unemployment rate falling to 3.9%.

The U.S. trade deficit widened in June for the first time in four months as exports fell and imports grew. Politically sensitive trade gaps with China, Mexico and Canada all increased. The Commerce Department said Friday that the deficit in goods and services rose 7.3 percent to $46.3 billion in June from $43.2 billion in May.