U.S. stocks open higher amid soft jobs report

U.S. stocks opened higher on Thursday as investors were digesting weaker-than-expected jobs data.

U.S. total nonfarm payroll employment increased by 223,000 in June, missing market consensus of 230,000, and the unemployment rate declined to 5.3 percent, the U.S. Labor Department reported Thursday.

In June, average hourly earnings for all employees on private nonfarm payrolls were unchanged at 24.95 dollars. Over the year, average hourly earnings have risen by 2.0 percent.

In a separate report, the Department announced that in the week ending June 27, the advance figure for seasonally adjusted initial claims was 281,000, an increase of 10,000 from the previous week's unrevised level of 271,000, above market expectations. The 4-week moving average was 274,750, an increase of 1,000 from the previous week's unrevised average of 273,750.

Analysts thought a relatively weak jobs report and the lack of wage growth could give the Federal Reserve an excuse to postpone rate hikes until December.

Greece remains in focus ahead of Sunday' s referendum on the country's bailout terms.

German Chancellor Angela Merkel said Wednesday that there would be no negotiation over a new bailout program to Greece before the country's referendum, though the door for talks remained open.

Shortly after the opening bell, the Dow Jones Industrial Average added 41.92 points, or 0.24 percent, to 17,799.83. The S&P 500 gained 5.87 points, or 0.28 percent, to 2,083.29. The Nasdaq Composite Index increased 12.99 points, or 0.26 percent, to 5,026.11. Endi