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US stocks opened high

NEW YORK: US stocks opened high on Friday with the Dow reaching the highest level after data showed US employers employed more workers than expected in July.

Labor Department reports show that non-plantation salaries increased by 209,000 jobs last month, exceeding 183,000 expected by economists.

The number of June employment increases was revised up to 231,000 out of the 222,000 previously reported.

Average hourly earnings rose 0.3 percent after gaining 0.2 percent in June, while the unemployment rate dropped to 4.3 percent.

Strong employment reports will likely facilitate the Federal Reserve (Fed) to announce a plan to begin reducing the bond portfolio of US $ 4.5 trillion in September

Meanwhile, according to the FedWatch CME Group tool, the likelihood of rising rates by year-end rose to 50 percent from 46 percent after data production.

At 1336 GMT, the Dow Jones Industrial Average rose 36.01 points, or 0.16 percent, to 22,062.11 and S & P 500 rose 4.55 points or 0.18 percent to 2,476.71. - REUTERS

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