Stocks gain as jobs report stokes hopes for low rates

September 2, 2016 2:39 PM

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NEW YORK — U.S. stocks are jumping Friday morning even though employers added fewer jobs in August than investors expected. That makes it a bit less likely the Federal Reserve will raise interest rates later this year. Utility companies made the biggest gains, while energy companies rose as the price of oil rose for the first time this week.

The Dow Jones industrial average added 94 points, or 0.5 percent, to 18,514 as of 10:50 a.m. ET. The Standard & Poor’s 500 index rose 11 points, or 0.5 percent, to 2,181. The Nasdaq composite climbed 29 points, or 0.6 percent, to 5,256.

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