U.S. stocks open sharply higher as Wall Street assesses stronger-than-expected job gains


U.S. stocks opened higher Friday, attempting to snap four straight days of losses, after a government report showed stronger-than-expected job gains in October as well as a slight rise in the unemployment rate. The Dow Jones Industrial Average DJIA, +1.26% gained 1.1% soon after the opening bell, while the S&P 500 SPX, +1.36% rose 1.6% and the Nasdaq Composite COMP, +1.28% advanced 2%, according to FactSet data, at last check. The U.S. Bureau of Labor Statistics said Friday that the economy added 261,000 jobs in October and the unemployment rate rose to 3.7% from 3.5%. Economists polled by The Wall Street Journal had forecast 205,000 new jobs for October.

This article was originally published by Marketwatch.com. Read the original article here.

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