Stimulus hopes lift Wall Street

Stocks opened higher on Friday as investors bet Washington will act quickly on a stimulus package following bleak January jobs data, offsetting a drag from the energy sector due to sliding oil prices.

U.S. nonfarm payrolls in January were slashed the most since December 1974 as the recession deepened, sending the unemployment rate to 7.6 percent.

The Dow Jones industrial average (.DJI) rose 105.61 points, or 1.31 percent, to 8,168.68. The Standard & Poor's 500 Index (.SPX) gained 10.79 points, or 1.28 percent, to 856.64. The Nasdaq Composite Index (.IXIC) was up 24.47 points, or 1.58 percent, at 1,570.71.