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Wall Street Opens Slightly Higher on 2nd Straight Jobs Miss; Dow Flat, S&P up 0.2% By Investing.com

by Mike Robinson

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© Reuters.

Geoffrey Smith 

Investing.com – U.S. stocks opened slightly higher after Friday’s employment report, which although weak, wasn’t strong enough to affect expectations that Federal Reserve officials will tighten their monetary policies next month.

According to the Labor Department, only 194,000 U.S. jobs were added in September, which was well below expectations of 500,000. The disappointment was tempered by an upward revision that exceeded 130,000 on August’s payroll gain.

While the average hourly earning per hour increased by 4.6% year-over-year, it was still well above the expectations of a 0.4% rise in monthly earnings. The 0.6% increase for the month was also impressive. This doesn’t indicate any immediate weakness in inflationary pressures. 

At 9:40 am ET (1340 GMT), it was actually flat at 34.750 point, which is 5 points lower than Thursday’s close. Both the and were up 0.2%.

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