NEW YORK, Dec. 4 (Xinhua) -- U.S. stocks opened modestly higher on Friday after data showed hiring in the nation slowed last month amid a continued spike in COVID-19 infections.

Shortly after the opening bell, the Dow Jones Industrial Average increased 79.29 points, or 0.26 percent, to 30,048.81. The S&P 500 was up 9.13 points, or 0.25 percent, to 3,675.85. The Nasdaq Composite Index rose 12.78 points, or 0.10 percent, to 12,389.97.

Of the 11 primary S&P 500 sectors, energy advanced more than 2 percent in morning trading, outperforming others. Communication services, however, struggled.

Total nonfarm payroll employment in the United States rose by 245,000 in November, the U.S. Bureau of Labor Statistics reported Friday, far short of a Dow Jones consensus estimate of 440,000. The unemployment rate edged down to 6.7 percent from 6.9 percent in October, roughly in line with expectations.

The numbers indicated the U.S. job market and the economy are faltering in face of a surging pandemic.

The United States on Thursday reported record numbers of new infections, single-day deaths and hospitalizations. The nation has so far registered over 14.1 million confirmed cases, with the death toll exceeding 276,000 as of Friday morning local time, showed a tally by Johns Hopkins University. Enditem

Related

Go to Forum >>0 Comment(s)