U.S. stocks opened higher Friday, set to cap a positive, holiday-shortened week, after August jobs data showed a smaller-than-expected rise in nonfarm payrolls.

The Dow Jones Industrial Average rose 47 points, or 0.2%, to 26,775, while the S&P 500 advanced 2 points, or 0.1%, to 2,978. The Nasdaq Composite was up less than a point near 8,117.

The Labor Department said the U.S. economy added 130,000 jobs in August, coming in below the 170,000 expected, on average, by economists.

The unemployment rate was unchanged at 3.7%. The weaker-than-expected reading on payrolls was seen underscoring expectations for the Federal Reserve to cut rates when it meets later this month.

Meanwhile, investors will focus on remarks by Fed Chairman Jerome Powell, who is scheduled to speak in Zurich, Switzerland, at 12:30 p.m. Eastern.

Source : Market Watch