Stocks open higher in US, lifted by strong job gains; China’s market also gains
NEW YORK, N.Y. – Stocks are opening higher on Wall Street as traders were encouraged by news of strong job gains in the US last month.
The gains early Friday came a day after the market had its worst drop in three months.
Retailers and technology companies had the biggest gains. Energy stocks rose along with the price of oil.
The Dow Jones industrial average gained 82 points, or 0.5 per cent, to 16,591 as of 9:35 a.m. Eastern time. The Dow lost 392 points the day before.
The Standard & Poor’s 500 index rose 11 points, or 0.6 per cent, to 1,953. The Nasdaq composite rose 44 points, or 1 per cent, to 4,733.
China’s market also rose. The benchmark index in Shanghai gained 2 per cent.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 per cent.
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