U.S. stocks opened higher Friday after a stronger-than-expected jobs report highlighted the labor market's resilience even as it heightened the risk of a more aggressive Federal Reserve in 2019.
The S&P 500 rose 0.9% to 2,471. The Dow Jones Industrial Average advanced 330 points, or 1.5%, to 23,016. The Nasdaq Composite climbed 1.5% to 6,562.
The U.S. created 312,000 jobs in December, well above the 182,000 expected from economists polled by MarketWatch. Average hourly earnings also rose 0.4%.
Adding to the buoyant investor sentiment, China's Commerce Ministry said next week would see face-to-face trade talks between U.S. and Chinese officials, and China's central bank announced a one percentage point cut in the ratio of cash banks must keep as reserves. Traders will gear up for comments from Fed Chairman Jerome Powell who is set to attend a panel discussion at 10:15 a.m. Eastern.
Source : Market Watch