MW: U.S. stocks open slightly higher after jobs report beats expectations
U.S. stocks opened slightly higher, on track for a fourth straight session of gains, after a much stronger-than-expected monthly jobs report underscored that the labor market remains robust. The Labor Department said that the U.S. generated 242,000 new jobs in February, beating economists' expectations of 198,000 new jobs. But the report also showed a drop in hourly wages and in the number of hours worked. Continued strength in the labor market could keep the Federal Reserve on track to raise interest rates further this year, after December ushered in the first hike in nearly a decade. The S&P 500 SPX, -0.19% gained 3 points, or 0.2%, to 1,996. The Dow Jones Industrial Average DJIA, -0.13% opened 20 points, or 0.1%, higher at 16,965. Meanwhile, the Nasdaq Composite COMP, -0.24% began the day up 9 points, or 0.2%, to 4,716.
