Markets Right Now: Stocks open higher on Wall Street

NEW YORK – The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening higher on Wall Street following a solid jobs report, keeping the market on track for a weekly gain after two weeks of losses.

The gains came despite an escalation in trade tensions as the U.S. imposed tariffs on Chinese goods and China responded in kind.

Investors were pleased to see that U.S. employers kept up a brisk pace of hiring last month, without having to hike wages that much. Markets were watching to see if tight labour market conditions would force wages higher, a sign of inflation.

The S&P 500 index rose 5 points, or 0.2 per cent, to 2,741.

The Dow Jones Industrial Average was little changed at 24,353. The Nasdaq composite climbed 33 points, or 0.5 per cent, to 7,620.

Bond prices rose. The yield on the 10-year Treasury fell to 2.82 per cent.