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US stock market opens higher with decline in unemployment

US stock market opens higher with decline in unemployment
Weak gain in nonfarm payrolls suggests that Fed may delay rate hike

By Ovunc Kutlu

ANKARA (AA) - US stocks opened higher on Friday with decline in November unemployment rate.

The Dow Jones was up 84 points, or 0.24%, to 34,724 at 9.37 a.m. The S&P 500 rose 17 points, or 0.37%, to 4,594.

The Nasdaq increased 19 points, or 0.13%, to 15,400.

US economy added 210,000 jobs last month, way below the market estimate of 550,000. Unemployment rate in the US decreased by 0.4 percentage point to 4.2% in November, from 4.6% in October.

The weak gain in nonfarm payrolls suggests that the Federal Reserve could delay its first rate hike next year.

The VIX volatility index, known as the fear index, was down 4% to 26.82.

The dollar index rose slightly by 0.07% to 96.22, while the yield on 10-year US Treasury notes gained 1.1% to 1.465%.

Crude prices were soared around 4%. Brent crude was trading at $72.44 per barrel, while US benchmark West Texas Intermediate crude was at $69.09.

Precious metals were mixed with gold rising 0.2% to $1,772 an ounce, but silver losing 0.1% to $22.36.

source: News Feed
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