Stocks Opened Slightly Lower after Jobs Report

U.S. stocks opened slightly lower Friday even as a monthly jobs report was stronger than expected. The Dow Jones Industrial Average lately fell 75.77 points, 0.27%, to 28,314.41. The S&P 500 was down 10.86 points or 0.31%, to 3,499.59. The Nasdaq Composite declined 63.83 points, or 0.54%, to 11,827.10.

Oil futures fell Friday, remaining under pressure as COVID-19 cases continued to rise, underlining worries over demand. West Texas Intermediate crude for December delivery fell $1.05, or 2.7%, to $37.74 a barrel, while January Brent crude was off $1.02, or 2.5%, to $39.92 a barrel.

The U.S. regained 638,000 jobs in October and the unemployment rate fell sharply again to 6.9%, reflecting a surprising show of strength for the economy even as coronavirus cases rose to record highs.

CVS Health posted a 3.5% rise in third-quarter sales on Friday, partly boosted by higher demand at its pharmacy stores that sell over-the-counter consumer health products and prescription drugs. Quarterly sales rose to $67.06 billion in the quarter from $64.81 billion a year earlier.