US stocks open higher after jobs figures

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US opened higher on Friday after jobs figures for February came higher than market estimates.

The Dow Jones rose four points, or 0.01%, to 38,798 at 9.34 a.m. EDT (1434GMT). The S&P 500 added nine points, or 0.2%, to 5,166.

The tech-heavy Nasdaq, meanwhile, increased 48 points, or 0.29%, to 16,321.

US economy added 275,000 jobs in February, much higher than market estimates of 198,000, the Labor Department announced earlier.

Job additions coming higher than expectations suggest that the labor market in the world's biggest economy still remains hot, which could delay the US Federal Reserve's first interest rate cut this year.

The VIX volatility index, also known as the fear index, fell 2.7% to 14.05. The 10-year US Treasury yield was unchanged at 4.092%.

The dollar index decreased 0.25% to 102.56, while the euro rose 0.1% to $1.0958 against the greenback.

Precious metals were mixed, with gold adding 0.37% to $2,168 per ounce but silver decreasing 0.22% to $24.27.

Oil prices were in negative territory, with global benchmark Brent crude losing 0.4% to $82.63 per barrel, and US benchmark West Texas Intermediate crude falling 0.5% to $78.50.