Stocks open higher after solid jobs report; oil price sinks

AP News
|
Posted: Dec 04, 2015 9:43 AM
Stocks open higher after solid jobs report; oil price sinks

NEW YORK (AP) — Stocks are opening slightly higher after the U.S. government reported another solid month of job gains.

The healthy sign on the labor market Friday paved the way for the Federal Reserve to begin nudging interest rates higher at its policy meeting later this month.

Energy stocks bucked the upward trend after the price of crude took another tumble. Chevron and Exxon Mobil fell the most in the Dow Jones industrial average.

The Dow rose 59 points, or 0.3 percent, to 17,544 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index climbed seven points, or also 0.4 percent, to 2,057. The Nasdaq composite increased 21 points, or 0.4 percent, to 5,058.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.30 percent.