Wall Street opens mixed on lack luster data; Dow up 0.14%

Investing.com - U.S. stocks opened mixed Friday, following the release of lack luster U.S. employment data, while sentiment remained supported the European Central Bank's new bond-buying plan, revealed Thursday.

At the open, the Dow added 0.14%, the broad based S&P 500 advanced 0.24%, and the tech heavy Nasdaq slipped 0.08%

The U.S. Bureau of Labor Statistics said that nonfarm payrolls rose by 96,000 in August, less than the expected 125,000 rise and following an increase of 141,000 rise the previous month.

The report also showed that the employment rate in the U.S. ticked down to 8.1% last month from 8.3% in June. Analysts had expected the unemployment rate to remain unchanged.

Stocks remained supported after European Central Bank Mario Draghi unveiled on Thursday a new bond-purchasing program, dubbed Outright Monetary Transactions, which he said will provide "a fully effective backstop" against market volatility.

The semiconductor industry was expected to be active, after Intel reduced its third-quarter revenue forecast and withdrew previous full-year projections earlier Friday, citing weaker demand in a challenging macroeconomic environment. 

The news sent Intel shares down 2.32% at the open, while rival company Nvidia tumbled 2.26% after Cantor Fitzgerald downgraded the stock to "hold" from "buy", saying it sees little growth in the PC and computer ecosystem sectors. 

Meanwhile, Apple was likely to remain in focus, amid reports the tech giant is considering starting its own custom radio service similar to Pandora’s, whose shares plummeted 15.12% in early trade. Apple was up 0.20%.

Elsewhere, Lululemon Athletica was moved higher Friday, as shares climbed 0.58% near the open, after the athletic apparel retailer reported better-than expected quarterly profit and forecast full-year profit above estimates, as same-store sales jumped 15%. 

Drugmaker Zimmer Holdings was also likely to be on the upside, with shares advancing 0.55% near the open after Bernstein upgraded the stock to "outperform" from "market perform". 

Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.09%, France’s CAC 40 climbed 1.01%, Germany's DAX rallied 0.81%, while Britain's FTSE 100 added 0.20%.

During the Asian trading session, Hong Kong's Hang Seng Index rallied 3.09%, while Japan’s Nikkei 225 Index surged 2.2%.

In global bullish news, official data indicated industrial production in Germany climbed by 1.3% in July, beating expectations for a 0.2% rise and following a revised 0.4% decline the previous month.