US stock market rises modestly in early trading following Friday sell-off
NEW YORK, N.Y. – The U.S. stock market is opening modestly higher following a sell-off Friday.
News of strong hiring last month drove stocks sharply lower Friday. Investors worried that the news raises the likelihood that the Federal Reserve will start to increasing rates sooner than expected.
The Dow Jones industrial average rose 30 points, or 0.2 per cent, to 17,887.
The Standard & Poor’s 500 index edged up two points, or 0.1 per cent, to 2,073. The Nasdaq gained four points, or 0.1 per cent, to 4,931
Bond prices rose, pushing yields lower. The yield on the 10-year Treasury note fell to 2.20 per cent from 2.25 per cent late Friday.
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