NEW YORK: US stocks on Friday opened higher despite a US employment report that showed surprisingly weak jobs growth in January.
Five minutes into trade, the Dow Jones Industrial Average advanced 55.55 points (0.36 percent) to 15,684.08.
The broad-based S&P 500 rose 10.26 (0.58 percent) to 1,783.69, while the tech-rich Nasdaq Composite Index jumped 27.27 (0.67 percent) to 4,084.39.
The gains followed a US Labor Department report that said the US added just 113,000 jobs in January, far fewer than the analyst consensus forecast of 175,000.
That marked the second disappointing jobs report in a row after jobs growth in December came in at a paltry 75,000, far below the 194,000 monthly average for 2013.
The reasons are “unclear” for the stock market’s rise following the report, said Briefing.com analyst Patrick O’Hare.
Some analysts have said the market may have discounted the January because severe winter weather could have depressed hiring.
But O’Hare noted that the report showed a strong increase in construction jobs.