US stocks open higher despite weak jobs figures

​​​​​​By Ovunc Kutlu

ISTANBUL (AA) - US stocks opened with gains on Friday despite weak jobs figures that came in much lower than expectations.

The Dow Jones industrial average rose 262 points, or 0.63%, to 42,026 as of 9.34 am EDT (1334GMT).

The S&P 500 was up 34 points, or 0.58% to 5,740. The Nasdaq Composite added 122 points, or 0.68%, to 18,256.

The economy added only 12,000 jobs in October, much less than market estimates of 106,000 jobs, in a month of two destructive hurricanes and a large strike at aircraft maker Boeing. Job additions for September, meanwhile, were revised down by 31,000, from 254,000 to 223,000.

The unemployment rate remained unchanged at 4.1% in September, and came in line with market estimates.

The VIX volatility index, also known as the "fear index," dove 6% to 21.77. The 10-year US Treasury yield fell 0.33% to 4.273%.

The US dollar index lost 0.04% to 103.93, while the euro shed 0.1% against the dollar, trading at $1.0873.

Precious metals were in positive territory. Gold added 0.45% to $2,756 per ounce and silver rose 1% to $32.99.

Oil prices climbed more than 2.3%, with global benchmark Brent crude at $74.50 per barrel and US benchmark West Texas Intermediate at $71.10.