Stocks opened higher Friday after a stronger-than-expected July jobs report. The Dow Jones Industrial Aveage rose 150 points, or 0.5% to 28,442, while the S&P 500 was up around 15 points, or 0.4%, tat 3,470. The tech-heavy Nasdaq Composite was up 50 points, or 0.5% at 11,508. Data from the Labor Department showed that the economy regained 1.4 million jobs in August and the unemployment rate fell to 8.4% from 10.2%. Economists polled by MarketWatch had predicted an increase of 1.2 million jobs. Stocks dropped sharply Thursday, with formerly highflying tech and other momentum names plunging after a breakneck rally that had helped fuel a run to all-time highs by the Nasdaq and S&P 500.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.