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U.S. stocks open higher after jobs report

Xinhua, April 10, 2017 Adjust font size:

U.S. stocks opened higher Monday as investors continued to digest the nonfarm payrolls report for March.

With no major economic data due Monday, investors were still sifting through the country's mixed jobs data.

U.S. total nonfarm payroll employment edged up by 98,000 in March, compared with market estimates of 180,000, while the unemployment rate declined to 4.5 percent, below market expectation of 4.7 percent, said the Labor Department on Friday.

In March, average hourly earnings for all employees on private nonfarm payrolls increased by 5 cents to 26.14 U.S. dollars, following a 7-cent increase in February.

Some analysts said the pullback in hiring could give the U.S. central bank reason to be more cautious on its next rate hike.

Shortly after the opening bell, the Dow Jones Industrial Average rose 29.45 points, or 0.14 percent, to 20,685.55. The S&P 500 added 3.51 points, or 0.15 percent, to 2,359.05. The Nasdaq Composite Index increased 11.39 points, or 0.19 percent, to 5,889.20. Endi