New York, Sep 4 (AP) Stocks are opening higher on Wall Street Friday, a day after a big slump in technology companies pulled the market to its biggest drop since June.

The S&P 500 rose 0.4 per cent. Traders were encouraged to see a drop in the unemployment rate last month, even as hiring slowed.

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Treasury yields rose after the government's monthly jobs report came out, a sign that investors are becoming less pessimistic about the economy.

The higher yields helped send bank stocks higher, since banks can lend money at higher rates once yields rise in the bond market. U.S. markets will be closed Monday for Labor Day. (AP)

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)