Markets Right Now: Job gains send stocks higher

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening with solid gains on Wall Street following a strong jobs report for October, putting the S&P 500 on track for its fourth straight weekly gain.

Banks, health care and industrial companies led the way higher in the early going on Friday. Safe-play sectors like utilities lagged as investors stepped up their appetite for risk.

Fitbit soared 16% after agreeing to be acquired by Google’s parent company, Alphabet.

Fortinet jumped 11% after the network security company reported results that easily beat analysts’ forecasts.

The S&P 500 rose 16 points, or 0.5%, to 3,053.

The Dow Jones Industrial Average climbed 152 points, or 0.6%, to 27,202. The Nasdaq rose 41 points, or 0.5%, to 8,335.

Bond prices fell. The yield on the 10-year Treasury rose to 1.70%.