U.S. stocks opened higher on Friday after several days of intense selling prompted by concerns that stronger economic growth would cause the Federal Reserve to start normalizing monetary policy sooner than expected. The Dow Jones Industrial Average (DOW:DJIA) gained 278 points, 0.9%, to open near 31,203 while the S&P 500 (S&P:SPX) traded 38 points, 1%, higher, near 3,806. The Nasdaq Composite (NASDAQ:COMP) jumped 1.1% or 137 points to trade near 12,860. Employers added more jobs than analysts had expected in February, the Labor Department said Friday before the opening bell. Stock futures initially weakened, but then rallied. Shares of Big Lots Inc. (NYS:BIG) jumped in early trade Friday, after the discount retailer reported a fiscal fourth-quarter profit that beat expectations and offered a rosy first-quarter outlook.
March 5, 2021, 9:31 a.m. EST