Stocks Opened Higher after Jobs Report

U.S. stocks opened with modest gains on Friday, after the September jobs report showed the unemployment rate fell to a fresh five-decade low, even as new job additions and wage gains missed expectations during the month. The Dow Jones Industrial Average lately rose 152.78 points, or 0.58%, to 26,353.82. The S&P 500 added 15.21 points, or 0.52%, to 2,925.84. The Nasdaq Composite advanced 38.58 points, or 0.49%, to 7,910.85.

Oil futures traded modestly higher Friday. West Texas Intermediate crude for November delivery rose 26 cents, or 0.5%, to $52.71 a barrel. December Brent crude rose 56 cents, or 1%, to $58.27 a barrel.

U.S. employers added fewer jobs than expected in September and wage gains slowed, adding to evidence of decelerating growth in the domestic economy. The economy added 136,000 new jobs in September, the government said Friday. But in a sign of a still-tight labor market, the unemployment rate unexpectedly declined to a fresh five-decade low of 3.5%.

About the Author

has written 14764 stories on this site.

Copyright © 2012 Nine Stocks