US stock market opens with gains as Fed rate hike wanes

NEW YORK (AA) - The stock market opened with gains Friday to begin the last trading day of the week on a higher note as the possibility decreased of a rate hike by the Federal Reserve this month.

The Dow Jones rose 92 points to begin the day at 18,511 and the S&P 500 was up nine points at 2,180. The Nasdaq increased 23 points to start the day at 5,250.

Non-farm payrolls increased by 151,000 in August, the Department of Labor announced earlier Friday. The market consensus for the data was an 180,000 increase.

The data is closely watched by the Fed to assess the performance of the American economy.

Since the data came in lower than expectations, the Fed's likelihood to increase its benchmark interest rate this month declined, which paved the way for Wall Street to begin the day with increases, according to analysts.