Stocks Open Higher After Employment Reading

July 30, 2008 6:44:56 AM PDT
FIRST PARAGRAPH Stocks are up in early trading, extending their gains following Tuesday's big rally. Investors are feeling encourged by an upbeat employment report from payroll company ADP and the Federal Reserve's extension of its emergency borrowing program for Wall Street banks.

Automatic Data Processing reported that private sector jobs increased during July. And oil prices are falling further, adding to the good mood.

The Dow Jones industrial average is up 67 at the 11,465 level in the opening minutes of trading.