US stock market opens higher with strong data

Economy adds more jobs than expected in July

By Ovunc Kutlu

NEW YORK (AA) - The U.S. stock market opened higher on Friday with strong macroeconomic data.

American economy added 209,000 new jobs in July, the U.S. Department of Labor announced earlier beating the market expectation of 178,000 jobs.

Unemployment rate decreased by 0.1 percent in July, from the previous month, to 4.3 percent -- the lowest level in the past 16 years.

With strong macroeconomic data, the three major indexes in Wall Street posted gains at the opening.

The S&P 500 added 4 points to begin the day at 2,474 points, while the Nasdaq rose 5 points to open at 6,345 points.

The Dow gained 52 points to start trading at 22,078, hitting a new record.

The index closed at all-time highest levels in the last seven consecutive trading days.

Kaynak:

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