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Stocks open higher ... More jobs filled ... Wholesale stockpiles trimmed

By The Associated Press | Posted - Jan. 8, 2016 at 8:30 a.m.



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NEW YORK (AP) — Stocks have opened higher on Wall Street as traders were encouraged by news of strong job gains in the US last month. The gains early today came a day after the market had its worst drop in three months. The Dow Jones industrial average gained 82 points to 16,591 as of 9:35 a.m. Eastern time. The Dow had lost 392 points the day before. The S&P rose 11 points. The Nasdaq composite rose 44 points.

WASHINGTON (AP) — American employers added a robust 292,000 jobs in December, suggesting that the U.S. economy is so far defying global weakness and growing solidly. In its monthly jobs report, the Labor Department said the unemployment rate remained 5 percent in December for a third straight month. More Americans started looking for jobs and succeeded in finding them.

WASHINGTON (AP) — U.S. wholesale businesses trimmed their stockpiles for the second straight month in November, while their sales plunged by the largest amount in 10 months. The Commerce Department says wholesale inventories fell 0.3 percent in November following a similar 0.3 percent drop in October. Sales plunged 1 percent, which was the biggest setback since January.

NEW YORK (AP) — Ford is reporting record sales of about 1.1 million vehicles in China last year. The automaker says that its 2015 sales in the country were up 3 percent from the previous year. It also set a new monthly sales record in December, selling 124,768 vehicles. That's up 27 percent from the prior-year period.

NEW YORK (AP) — Campbell Soup says it supports federal legislation that would establish a national labeling standard for products containing genetically modified ingredients. About three-quarters of the company's products have GMO ingredients. The maker of Pepperidge Farm cookies and Prego sauces says it will withdraw its support from various groups and coalitions opposing such labeling.

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The Associated Press

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