U.S. Stocks Open Lower After Robust Jobs Report

U.S. stocks opened lower on Friday, after a stronger-than-expected payrolls data and subsequent rises in the dollar and Treasury yields pointed to expectations that rates hikes are coming sooner rather than later. The U.S. economy added 295,000 jobs last month, while the unemployment rate fell to 5.5%. Separately, the trade deficit narrowed by less than expected. The main indexes were set to end the week with losses. The S&P 500 opened 9 points, or 0.4%, lower at 2,092.26. The Dow Jones Industrial Average dropped 105 points, or 0.6%, to 18,030.401. The Nasdaq Composite began the day down 10 points, or 0.2%, at 4,972.24.