Stocks inch higher following jobs report

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Associated Press

Posted on January 4, 2013 at 10:01 AM

Updated Friday, Jan 4 at 10:03 AM

NEW YORK (AP) — Stocks are mostly edging higher on Wall Street in early trading after the U.S. government reported that hiring held up last month.

The Dow Jones industrial average rose 11 points to 13,403 shortly after the opening bell Friday. The Standard & Poor's 500 index rose two to 1,461 and the Nasdaq fell a point to 3,099.

The Labor Department said U.S. employers added 155,000 jobs in December. It also said hiring was stronger in November than first thought. The unemployment rate held steady at 7.8 percent.

Accuray plunged 23 percent to $5.21 after the radiation oncology equipment company reported weak sales and said it would cut 13 percent of its staff.

Yoga apparel maker Lululemon dropped 5 percent to $71.10 after Credit Suisse predicted slowing momentum and downgraded its stock.

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