Stocks Opened Higher after Strong Jobs Report

U.S. stocks opened higher on Friday after the US Department of Labor reported more new job additions in October than expected. The Dow Jones Industrial Average lately advanced 103.19 points, or 0.41%, to 25,483.93. The S&P 500 added 6.46 points, or 0.24%, to 2,746.83. The Nasdaq Composite was down 14.48 points, or 0.19%, to 7,419.57.

Oil futures dropped again Friday, leaving the U.S. benchmark to trade at April lows, as supply factors continued to weigh. December West Texas Intermediate crude slipped 10 cents, or about 0.1%, at $63.57 a barrel. Brent crude for January delivery was up 9 cents, or 0.1%, at $72.96 a barrel.

In October, the U.S. economy created 250,000 jobs, topping expectations, while the unemployment rate held at 3.7%, matching the lowest level since 1969. The labor force participation rate also ticked up in October to 62.9%, a 0.2% increase from September.

Apple Inc. reported better-than-expected results for its fiscal fourth quarter but delivered a disappointing revenue outlook for the current quarter. Net income rose to $14.1 billion, or $2.91 a share, up from $10.7 billion, or $2.07 a share, a year earlier. Apple posted revenue of $62.9 billion, up from $52.58 billion in the year-earlier quarter.