Stocks Opened Higher after November Jobs Report

U.S. stocks opened higher on Friday as traders shook off a disappointing print on job creation in November. The Dow Jones Industrial Average lately rose 113.20 points, or 0.38%, to 30,082.72. The S&P 500 gained 15.95 points, or 0.43%, to 3,682.67. The Nasdaq Composite was up 44.54 points, or 0.36%, to 12,421.73.

Oil futures rose Friday, with the global benchmark nearing the $50-a-barrel threshold a day after the Organization of the Petroleum Exporting Countries and its allies agreed to ease production cuts more gradually than originally planned.
West Texas Intermediate crude for January delivery rose 47 cents, or 1%, to $46.10 a barrel. February Brent crude was up 46 cents, or 0.9%, at $49.17 a barrel.

The U.S. regained 245,000 jobs in November and the unemployment rate declined again, but hiring fell to a seven-month low. Private-sector payrolls rose by a stronger 344,000, but a nearly 100,000 drop in government jobs reduced overall employment gains. The unemployment rate, meanwhile, fell for the seventh month in a row to 6.7% from 6.9%, marking a new pandemic low.