Wall Street Opens Higher After Data Point to Softening Labor Market

Wall Street Opens Higher After Data Point to Softening Labor Market
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on July 7, 2023. Brendan McDermid/Reuters
Reuters
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Wall Street’s main indexes opened higher on Friday after a keenly awaited report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes.

The Dow Jones Industrial Average rose 154.33 points, or 0.44 percent, at the open to 34,876.24.

The S&P 500 opened higher by 22.94 points, or 0.51 percent, at 4,530.60, while the Nasdaq Composite gained 95.00 points, or 0.68 percent, to 14,129.96 at the opening bell.