New York Jan 6 (IANS) US stocks opened higher on Friday despite a negative report of the country s non-farm payrolls.
US total non-farm payroll employment increased by 148 000 in December missing market expectations of 190 000 the Labor Department reported Friday. The unemployment rate was unchanged at 4.1 per cent Xinhua reported.
In December average hourly earnings for all employees on private non-farm payrolls rose by nine cents to $26.63. Over the year average hourly earnings have risen by 65 cents or 2.5 per cent.
Meanwhile the US Department of Commerce announced on Friday that the goods and services deficit was $50.5 billion in November up $1.6 billion from October.
Analysts said that the recent solid gains in US equities have been buoyed by the prospect of a US corporate tax-cut package rising commodity prices and robust corporate earnings.
Shortly after the opening bell the Dow Jones Industrial Average rose 70.38 points or 0.28 per cent to 25 145.51. The S&P 500 added 9.59 points or 0.35 per cent to 2 733.58. The Nasdaq Composite Index gained 27.36 points or 0.39 per cent to 7 105.28.
All three major indices closed at record highs on Thursday with the Dow shooting above 25 000 points for the first time as investors cheered over strong US private-sector hiring data.
--IANS
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