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U.S. stocks open higher after jobs report

Xinhua, October 7, 2016 Adjust font size:

U.S. stocks opened slightly higher on Friday, as investors digested the newly-released jobs report that missed market expectations.

U.S. total nonfarm payroll employment increased by 156,000 in September, lower than the market estimates of 176,000, and the unemployment rate rose slightly to 5 percent, according to the Labor Department Friday.

Traders kept a close eye on the key nonfarm jobs report for more clues on the central bank's next move.

Analysts said the employment report for September came at a crucial time, with the presidential election and Fed's next meeting just weeks away.

Meanwhile, Wall Street focused on Fed speakers for more indications on the timing of next interest rate hikes.

Some Fed officials said earlier this week that there was a strong case to raise interest rates, and the central bank should not delay rates hikes.

Shortly after the Friday's opening bell, the Dow Jones Industrial Average gained 24.55 points, or 0.13 percent, to 18,293.05. The S&P 500 rose 2.89 points, or 0.13 percent, to 2,163.66. The Nasdaq Composite Index ticked up 3.00 points, or 0.06 percent, to 5,309.85.

U.S. stocks ended mixed on Thursday as investors were awaiting the closely-watched nonfarm payroll report due Friday. Endi