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U.S. stocks open higher after Labor Day

Xinhua, September 6, 2016 Adjust font size:

U.S. stocks opened higher Tuesday after a long weekend, as Wall Street continued to digest the country's August jobs report.

U.S. total nonfarm payroll employment increased by 151,000 in August, well below market consensus of 175,000, and the unemployment rate remained at 4.9 percent, the Labor Department reported Friday.

The weaker-than-expected August jobs report eased fears that the Federal Reserve would begin its next rate hike as soon as September, since the Federal Open Market Committee is set to meet on Sept. 20-21.

All three major indices rallied Friday following the release of the nonfarm jobs report.

On other economic news, the final Markit services PMI and the ISM non-manufacturing data are scheduled for release later Tuesday morning.

Shortly after the opening bell, the Dow Jones Industrial Average rose 23.08 points, or 0.12 percent, to 18,515.04. The S&P 500 added 3.08 points, or 0.14 percent, to 2,183.06. The Nasdaq Composite Index increased 9.62 points, or 0.18 percent, to 5,259.52. Endi