NEW YORK (AA) – The stock market opened higher Friday as weak jobs numbers decreased the likelihood of a rate hike by the Federal Reserve this year.
The Dow Jones was up 22 points to begin the day at 18,291 and the S&P gained two points to start at 2,163. The Nasdaq added two points to open at 5,309.
The American economy added 156,000 jobs in September, a little below expectations, according to the Department of Labor earlier Friday.
The unemployment rate also rose to 5 percent last month, from 4.9 percent, the department said. The market consensus was for it to remain at 4.9 percent.
The Fed is watching the data closely in order to decide on a potential increase of its benchmark interest rate this year.
With the possibility of a rate hike waning, investors have taken a buying position in the market, analysts added.
