U.S. stocks open higher after employment report shows wage growth cooling

U.S. stocks opened higher at the opening bell as investor digested an employment report that showed signs of wage growth slowing in a strong labor market. The Dow Jones Industrial Average
DJIA,
+1.11%
was up 0.8% soon after the opening bell, while the S&P 500
SPX,
+1.10%
gained 0.7% and the Nasdaq Composite
COMP,
+0.89%
rose 0.5%, according to FactSet data, at last check. The U.S. Bureau of Labor Statistics said Friday that the U.S. added 223,000 jobs in December, with the unemployment rate edging down to 3.5%. Hourly earnings rose a modest 0.3% last month, slightly below forecast. The rise in wages over the past year slowed to 4.6% from 4.8%, the smallest increase since the summer of 2021.