Markets Right Now: US stocks move solidly higher


NEW YORK (AP) — The latest on developments in global financial markets (all times local):

11:45 a.m.

Stocks are moving higher in midday trading as investors hope that a slowdown in hiring last month will prompt the Federal Reserve to keep interest rates low for longer.

Energy companies rose more than the rest of the market Friday as the price of crude oil reversed a weeklong slump and turned higher. Marathon Oil rose 3.5 percent.

The Dow Jones industrial average rose 81 points, or 0.4 percent, to 18,500.

The Standard & Poor’s 500 gained 9 points, or 0.4 percent, to 2,179. The Nasdaq composite rose 22 points, or 0.4 percent, to 5,250.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.61 percent.

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9:35 a.m.

Stocks are opening higher even though U.S. employers added fewer jobs than expected in September.

The weaker-than-expected jobs report Friday appeared to make it less likely that the Federal Reserve will raise interest rates.

High-dividend utility stocks, which would benefit low interest rates, rose more than the rest of the market.

Energy companies rose as the price of crude oil reversed a weeklong slump and turned higher. Marathon Oil rose 3 percent.

The Dow Jones industrial average rose 88 points, or 0.5 percent, to 18,507.

The Standard & Poor’s 500 gained 9 points, or 0.4 percent, to 2,179. The Nasdaq composite rose 16 points, or 0.3 percent, to 5,243.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.59 percent.

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