Stocks open higher as employers add to payrolls

AP News
Posted: Nov 02, 2012 9:45 AM
Stocks open higher as employers add to payrolls

Stocks are moving higher in early trading on Wall Street after the government reported that employers stepped up hiring last month.

The Dow Jones industrial average was up 34 points at 13,266 shortly after the opening bell Friday.

The Standard & Poor's 500 index rose five points to 1,432 and the Nasdaq composite index rose six points to 3,026.

The Labor Department reported that U.S. employers added 171,000 jobs in October. It also said hiring was stronger in August and September than first thought. The unemployment rate inched up to 7.9 percent from 7.8 percent

Starbucks, TripAdvisor and jumped in early trading after reporting strong earnings late Thursday.

Global markets also rose.

The yield on the benchmark 10-year Treasury note rose to 1.76 percent from 1.73 percent late Thursday.