U.S. Markets

U.S. stocks opened higher Friday, gaining ground after an August jobs report that saw payrolls rise largely in line with expectations while the unemployment rate ticked higher --- offering a sign that employment gains are moderating and that the Federal Reserve's policy tightening may be beginning to have an effect. The Dow Jones Industrial Average rose 244 points, or 0.8%, while the S&P 500 gained 0.9% and the Nasdaq Composite advanced 0.8%. Major indexes remained on track, however, for weekly losses.

U.S. stocks traded mixed in the final hour of trading on Thursday as another pandemic lockdown in the southwestern Chinese metropolis of Chengdu added to concerns about economic growth. The Dow Jones Industrial Average was up by 0.3% and the S&P 500 gained less than 0.1%, while the Nasdaq Composite lost 0.6%. The two-year Treasury yield hit a fresh 15-year high at 3.528%, while the 10-year Treasury yield climbed to 3.266%, its highest level since late June. Rising bond yields also push the U.S. dollar to a 20-year high. Economists expect the August employment report, due Friday morning, to show the creation of 318,000 jobs.

U.S. stocks headed lower in the final hour of trading on Wednesday, threatening to extend a losing streak to four sessions as Wall Street closes the books on a choppy August. The Dow Jones Industrial Average was down by 0.5% and the S&P 500 was off by around 0.4%, while the Nasdaq Composite lost 0.2%. The choppy trading on Wednesday came after the ADP figure came in below forecasts, showing the U.S. private sector employers added 132,000 jobs in August. The August employment report scheduled for release on Friday is expected to show the economy added 318,000 jobs, far fewer than the 528,000 new jobs that were created in July.

Apple Inc. is giving its smartwatch a bigger facelift, with the largest display thus far and a larger battery and "rugged metal casing," Bloomberg reported late Wednesday, citing sources. The new watch will be designed for extreme sports enthusiasts, and will boast a screen that's nearly 2 inches across. Apple will also roll out a new standard Apple Watch Series 8 that will maintain the current 1.9-inch screens. The bigger screen would allow for a user to display simultaneous fitness metrics and the strong metal used for the casing will be tougher, along with a shatter-resistant screen. An Apple spokesman decline to offer Bloomberg a comment on plans for the new rugged smartwatch.