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Stocks Open Higher After Unemployment Rate Drops

U.S. stocks making noteworthy moves included:

â¿¿ Apple fell $14.21, or 2.1 percent, to $652.59, causing the Nasdaq to perform worse than other indexes.

â¿¿ Zynga plunged 33 cents, or 11.9 percent, to $2.48 after the online game maker said that it expects a third-quarter loss due to weak demand and a charge related to an acquisition.

â¿¿ Dow component Hewlett-Packard fell 21 cents to $14.73. Moody's Investors Service said it was reviewing its investment-grade credit rating for a possible downgrade after the PC and printer maker cut its profit forecast.

â¿¿ Avon Products rose $1.17, or 7.2 percent, to $17.39 after announcing that its chairman and former CEO Andrea Jung will step down at the end of the year. Jung had come under fire for failing to reverse the company's declines and wrap up a bribery investigation.

â¿¿ Constellation Brands rose $1.48, or 4.3 percent, to $36.20. The wine and liquor company's quarterly results beat Wall Street's forecasts, and it raised its full-year forecast.

Stocks rose in Europe, too. The FTSE 100 index of leading British shares was up 0.7 percent, while Germany's DAX rose 1.3 percent and the CAC-40 in France was up 1.6 percent.

The dollar was trading steadily across a range of currencies, with the euro down slightly at $1.303.

The yield on the 10-year U.S. Treasury note rose to 1.73 percent from 1.68 percent as investors shifted money from bonds into stocks.

The price of oil fell despite the better U.S. jobs figures as investors booked gains from a big rise caused by concerns over the recent clashes between Turkey and Syria. The benchmark New York crude oil price fell $1.83 to $89.88 per barrel.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Chart of I:DJI
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