Wall Street opens with gains on jobs data

Traders work on the floor of the New York Stock Exchange at the opening bell in New York, January 2, 2014. REUTERS/Carlo Allegri

NEW YORK (Reuters) - U.S. stocks rose at the open on Thursday in the wake of upbeat labor market data and as Macy's lifted the bar further for retailers after a stellar holiday season.

The Dow Jones industrial average rose 38.85 points or 0.24 percent, to 16,501.59, the S&P 500 gained 3.47 points or 0.19 percent, to 1,840.96 and the Nasdaq Composite added 13.079 points or 0.31 percent, to 4,178.69.

(Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)