BUSINESS US stocks open higher amid jobs data

BUSINESS

US stocks open higher amid jobs data

Xinhua

22:54, November 01, 2019

NEW YORK, Nov. 1 (Xinhua) - US stocks opened higher on Friday, underpinned by better-than-anticipated jobs data.

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(File photo: VCG)

Shortly after the opening bell, the Dow Jones Industrial Average jumped 145.91 points, or 0.54 percent, to 27,192.14. The S&P 500 was up 16.92 points, or 0.56 percent, to 3,054.48. The Nasdaq Composite Index increased 41.63 points, or 0.50 percent, to 8,333.99.

All of the 11 primary S&P 500 sectors climbed in morning trading, with both industrials and energy up more than 0.8 percent shortly after the opening, outpacing the rest.

US total nonfarm payroll employment rose by 128,000 in October, the Department of Labor reported on Friday. The reading topped the 75,000 forecast of economists surveyed by MarketWatch.

Notable job gains occurred in food services and drinking places, social assistance, and financial activities, while employment in motor vehicles and parts decreased due to strike activity, according to the department.

Wall Street also paid close attention to the corporate earnings.

About 70 percent of S&P 500 companies have reported quarterly numbers by far, according to data from FactSet. Of those companies, 75 percent have delivered stronger-than-expected earnings. 

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