Stocks open higher after US reports job gains

AP News
Posted: Apr 04, 2014 9:39 AM

NEW YORK (AP) — Stocks are opening higher after the government reported that U.S. employers added to their payrolls at a solid pace last month.

CarMax slumped 3 percent after the used car seller said its quarterly income fell as the effects of an accounting correction offset higher vehicle demand.

The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,895 in the first few minutes of trading Friday.

The Dow Jones industrial average futures rose 48 points, or 0.3 percent, to 16,620. The Nasdaq composite rose 12 points, or 0.3 percent, to 4,249.

European markets rose. Germany's DAX gained 0.6 percent.

Bond prices rose. The yield on the 10-year Treasury note dipped to 2.76 percent from 2.80 percent late Thursday.