U.S. stocks open modestly higher, hitting records, after jobs report -- MarketWatch

U.S. stocks opened with slight gains on Friday, with major indexes eking out intraday records despite the May payrolls report, which came in below expectations. The Dow Jones Industrial Average rose 1 point to 21,151. The S&P 500 rose 1 point to 2,431. The Nasdaq Composite Index gained 13 points, or 0.2%, to 6,259. Both the S&P and the Nasdaq hit records in early trading, while the Dow was points away from its own. The economy added 138,000 jobs last month, below forecasts. The report comes ahead of the Federal Reserve's June meeting, where it is expected to raise interest rates. However, the unemployment rate ticked down to its lowest level since 2001. For the week, the Dow is on track for a rise of 0.3% while both the S&P and Nasdaq are up 0.6%. Among the day's biggest movers, Lululemon Athletica Inc. (LULU) jumped nearly 17% after it reported first-quarter results that beat expectations. RH Inc. (RH) tumbled 21% after cutting its outlook.

-Ryan Vlastelica

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(END) Dow Jones Newswires

June 02, 2017 09:47 ET (13:47 GMT)