A ticker indicating points lost is seen on the floor of the New York Stock Exchange after the closing bell on October 23, 2012 in New York City. The Dow finished down 243.36 points to close at 13,102.53 following weak earnings reports. (Photo by Mario Tama/Getty Images)
UNDATED (AP) -- Stocks are opening higher on Wall Street after a pair of encouraging reports on employment.
Payroll provider ADP said Thursday that U.S. businesses added 158,000 jobs in October, and the Labor Department reported that applications for unemployment benefits dropped 9,000 to 363,000 last week. That's a level that suggests employers are starting to hire workers again.
The Dow Jones industrial average rose 72 points to 13,168 shortly after the opening bell.
The Standard & Poor's 500 index rose five points to 1,418 and the Nasdaq composite rose 14 points to 2,991.
Kellogg's stock rose 1 percent after reporting that its income edged up in the third quarter. The company said it's benefiting from its acquisition of Pringles chips earlier this year.
(Copyright 2012 The Associated Press. All rights reserved.