U.S. stocks open higher on jobs report
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E-mail Xinhua, October 4, 2019
NEW YORK, Oct. 4 (Xinhua) -- U.S. stocks opened higher on Friday following the release the latest U.S. jobs report.
Shortly after the opening bell, the Dow Jones Industrial Average was up 87.79 points, or 0.34 percent, to 26,288.83. The S&P 500 rose 9.07 points, or 0.31 percent, to 2,919.70. The Nasdaq Composite Index went up 34.76 points, or 0.44 percent, to 7,907.02.
The unemployment rate declined to 3.5 percent in September, a 50-year low, the U.S. Labor Department said on Friday.
The department said total nonfarm payroll employment rose by 136,000 last month. Job growth has averaged 161,000 per month thus far in 2019, compared with an average monthly gain of 223,000 in 2018.
The Federal Reserve is largely expected to cut rates later this month. Expectations for a 25 basis-point rate cut were at 76.4 percent on Friday, according to the CME Group's FedWatch tool. Enditem
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