US open: Stocks trade higher following NFP report

Wall Street stocks were in the green early on Friday as investors digested a non-farm payrolls report that came in ahead of expectations.

As of 1525 GMT, the Dow Jones Industrial Average was up 1.09% at 33,290.55, while the S&P 500 advanced 1.08% to 3,849.41 and the Nasdaq Composite came out the gate 0.86% firmer at 10,393.65.

The Dow opened 360.47 points higher on Friday, erasing losses recorded in the previous session following the release of a stronger-than-expected ADP private payrolls report

Friday's primary focus will be on last month's non-farm payrolls report and unemployment figures, with hiring in the US coming in stronger than expected. According to the Department of Labor, in seasonally adjusted terms, non-farm payrolls increased by 203,000 in December. Economists had forecast a gain of 200,000. The rate of unemployment, meanwhile, fell by one-tenth of a percentage point to 3.5%.

Elsewhere on the macro front, services sector activity in the US shrank unexpectedly at the end of 2022, with the Institute for Supply Management's purchasing managers' index for the sector falling from 56.5 in November to 49.6 in December. Economists at Barclays Research had pencilled-in a reading of 54.5.

Finally, US factory orders dropped 1.8% in November, according to the Census Bureau, following a downwardly revised 0.4% increase in October and well and truly short of the 0.8% decline forecast by economists.

No major corporate earnings were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Dow Chemical Co. (DOW) $54.19 2.42%
Travelers Company Inc. (TRV) $191.27 1.98%
Walmart Inc. (WMT) $146.07 1.95%
Amgen Inc. (AMGN) $271.15 1.61%
Procter & Gamble Co. (PG) $152.73 1.59%
Caterpillar Inc. (CAT) $244.02 1.56%
Chevron Corp. (CVX) $177.85 1.49%
Visa Inc. (V) $214.17 1.45%
Coca-Cola Co. (KO) $63.06 1.38%
Verizon Communications Inc. (VZ) $42.21 1.22%

Dow Jones - Fallers

Home Depot Inc. (HD) $310.88 -1.45%
Microsoft Corp. (MSFT) $220.35 -0.88%
Walt Disney Co. (DIS) $91.78 -0.15%
Unitedhealth Group Inc. (UNH) $489.37 -0.12%
Dowdupont Inc. (DWDP) $0.00 0.00%
Honeywell International Inc. (HON) $0.00 0.00%
Goldman Sachs Group Inc. (GS) $344.24 0.14%
JP Morgan Chase & Co. (JPM) $135.65 0.22%
Intel Corp. (INTC) $27.64 0.29%
Salesforce.Com Inc. (CRM) $136.90 0.41%

S&P 500 - Risers

Costco Wholesale Corp. (COST) $477.75 6.12%
Nucor Corp. (NUE) $143.81 4.93%
Mosaic Company (MOS) $46.87 4.88%
HF Sinclair Corporation (DINO) $52.98 4.74%
Freeport-McMoRan Inc (FCX) $41.60 4.42%
Apartment Investment & Management Co. (AIV) $7.34 3.53%
Target Corp. (TGT) $159.63 3.48%
Valero Energy Corp. (VLO) $130.90 3.40%
Entergy Corp. (ETR) $106.87 3.10%
ONEOK Inc. (OKE) $66.70 2.88%

S&P 500 - Fallers

Baxter International Inc. (BAX) $49.11 -6.58%
Waters Corp. (WAT) $324.83 -6.40%
Agilent Technologies Inc. (A) $144.84 -4.78%
Thermo Fisher Scientific Inc. (TMO) $532.35 -4.42%
Danaher Corp. (DHR) $245.41 -3.85%
Mettler Toledo International (MTD) $1,433.13 -3.79%
Illumina Inc. (ILMN) $193.55 -3.78%
PerkinElmer Inc. (PKI) $133.77 -3.63%
Advanced Micro Devices Inc. (AMD) $60.10 -3.58%
Nektar Therapeutics (NKTR) $2.34 -2.30%

Nasdaq 100 - Risers

Costco Wholesale Corp. (COST) $477.75 6.12%
Broadcom Inc. (AVGO) $570.45 2.78%
Kraft Heinz Co. (KHC) $42.44 2.70%
CSX Corp. (CSX) $31.68 2.49%
KLA-Tencor Corp. (KLAC) $382.10 2.31%
Marriott International - Class A (MAR) $152.19 2.22%
Lam Research Corp. (LRCX) $424.99 1.90%
O'Reilly Automotive Inc. (ORLY) $850.01 1.88%
Dollar Tree Inc (DLTR) $145.16 1.82%
Microchip Technology Inc. (MCHP) $70.32 1.77%

Nasdaq 100 - Fallers

Tesla Inc (TSLA) $105.64 -4.26%
Illumina Inc. (ILMN) $193.55 -3.78%
JD.com, Inc. (JD) $63.79 -3.20%
Qurate Retail Inc. (QRTEA) $1.68 -2.33%
Paypal Holdings Inc (PYPL) $74.55 -2.26%
Align Technology Inc. (ALGN) $215.19 -2.11%
Netflix Inc. (NFLX) $303.84 -1.89%
Trip.com Group Limited (TCOM) $37.64 -1.72%
Take-Two Interactive Software Inc. (TTWO) $104.22 -1.64%
Baidu Inc. (BIDU) $130.69 -1.39%