Stocks Opened Higher after Strong Jobs Data

U.S. stocks opened higher on Wednesday following rises in European stocks and strong domestic private sector employment gains. The Dow Jones Industrial Average lately climbed 120.77 points, or 0.45%, to 26,894.71. The S&P 500 advanced 9.65 points, or 0.33%, to 2,933.08. The Nasdaq Composite rose 23.04 points, or 0.29%, to 8,022.59.

Oil futures ticked higher on Wednesday, ahead of a closely followed inventory report and as investors weighed the effects of global output on Iranian exports due to pending U.S. sanctions. November West Texas Intermediate crude edged 4 cents, or less than 0.1%, higher to $75.27 a barrel. December Brent rose 18 cents, or 0.1%, to $84.80 a barrel.

U.S. businesses added a robust 230,000 jobs in September, a private survey found, a sign that strong economic growth is spurring companies to add more workers.

Italy’s populist government will offer some concessions to fend off European Union pressure about its public finances, committing to reduce its budget deficit targets in 2020 and 2021, while sticking to its guns for next year, Corriere della Sera newspaper reported.