Stocks open higher on Wall Street a day after tech sell-off
NEW YORK (AP) — Stocks are opening higher on Wall Street Friday, a day after a big slump in technology companies pulled the market to its biggest drop since June. The S&P 500 rose 0.4%. Traders were encouraged to see a drop in the unemployment rate last month, even as hiring slowed. Treasury yields rose after the government’s monthly jobs report came out, a sign that investors are becoming less pessimistic about the economy. The higher yields helped send bank stocks higher, since banks can lend money at higher rates once yields rise in the bond market. U.S. markets will be closed Monday for Labor Day.
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