Wall Street rises at open after payrolls report

NEW YORK -

Stocks rose at the open on Friday with the S&P 500 set to hit its highest since 2007, as the September payrolls report showed a surprise drop in the jobless rate and gave legs to this week's rally.

The Dow Jones industrial average <.DJI> gained 56.93 points, or 0.42 percent, to 13,632.29. The Standard & Poor's 500 Index <.SPX> rose 5.70 points, or 0.39 percent, to 1,467.10. The Nasdaq Composite Index <.IXIC> added 12.47 points, or 0.40 percent, to 3,161.93.

(Reporting by Chuck Mikolajczak; Editing by Bernadette Baum)