Stocks open slightly higher after September jobs report

Stocks opened with modest gains Friday, after labor data showed a smaller-than-expected rise in September nonfarm payrolls and an unexpected drop in the unemployment rate. The Dow Jones Industrial Average DJIA, +0.89% rose 85 points, or 0.3%, to 26,286, while the S&P 500 SPX, +0.91% gained 9 points, or 0.3%, to trade at 2,920. The Nasdaq Composite COMP, +0.93% advanced 35 points, or 0.4%, to 7,907. Stock-index futures erased early losses after the Labor Department said the U.S. economy added 136,000 jobs in September, coming in below the consensus forecast of 150,000, while the unemployment rate fell to 3.5% from 3.7%. Economists had forecast the rate to remain unchanged.

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