U.S. stocks open higher after nonfarm payrolls report

U.S. stocks opened higher after data from the Labor Department showed jobs growth was stronger than anticipated in August while the unemployment rate rose. The Dow Jones Industrial Average DJIA, +0.43% was up 0.7% soon after the opening bell, while the S&P 500 SPX, +0.47% gained 0.7% and the Nasdaq Composite COMP, +0.40% climbed 0.8%, according to FactSet data, at last check.

The Labor Department said Friday that the U.S. economy added 187,000 jobs last month while average hourly earnings increased 0.2% in August for 4.3% wage growth over the past year. The number of new jobs exceeded the total 170,000 forecast by economists polled by the Wall Street Journal. The government’s nonfarm payrolls report also showed the U.S. unemployment rate climbed to 3.8% in August, from 3.5% in July.

Meanwhile, the yield on the 10-year Treasury note was up two basis point Friday morning at 4.11%, according to FactSet data, at last check. Two-year Treasury yields were down about four basis points at around 4.8%.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold prices log highest finish since early August as traders await U.S. inflation, labor-market dataGold futures settle at their highest price in more than three weeks Wednesday as traders awaited more data on the U.S. labor market.
Source: MarketWatch - 🏆 3. / 97 Read more »

August jobs report likely to point to slowing labor marketThe August jobs report, due Friday morning, is expected to show the labor market is finally slowing down due to higher interest rates and steep inflation.
Source: FoxBusiness - 🏆 458. / 53 Read more »