Stocks open higher after the jobs report beats expectations (SPY, SPX, DJI, IXIC, IWIM, USO, WTI, OIL, VDE)

Investing.comStocks are up for the week.

Stocks opened higher after the jobs report beat expectations.

Near 9:32 a.m. ET, stocks were virtually flat, with the three big indexes gaining between one and five points.

S&P 500 futures were pointing to the index opening back above the 2,000 level.

In February the US economy added 242,000 jobs, more than expected, while wage gains disappointed.

Over the prior month wages fell 0.1% and over last year wages ticked up 2.2%, less than the 0.2% and 2.5% gains that were expected for each reading.

Gold entered a bull market Thursday and continued to rally this morning, with futures rising about 1% or $18 an ounce to as high as $1,277.10.

Other commodities were rallying, including silver, which was up about 4%, or $0.6 an ounce, to $15.725.

Crude oil was doing nothing, as WTI futures were virtually flat and near $34.58 per barrel. Around 1 p.m. ET, Baker Hughes will release its weekly report on US oil and gas rigs. The combined count is about a dozen rigs away from dropping to the lowest levels in several decades.

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