U.S. stocks opened modestly higher on Friday, following a payroll report that came in below expectations but was not seen as derailing the expectation that the Federal Reserve would raise rates at its December meeting. Following the report, Cleveland Federal Reserve President Loretta Mester told CNBC that the U.S. was at full employment and that gradual rate hikes were needed. Mester is a voting member of the policy-setting Federal Open Market Committee, who has been a proponent of hiking rates sooner than later. The Dow Jones Industrial Average [S: DJIA] rose 36.64 points, or 0.2%, to 18,310.62. The S&P 500 [S: SPX] rose 3.98 points, or 0.2%, to 2,164.92. The Nasdaq Composite Index [S: COMP] rose 7.92 points, or 0.2%, to 5,314.05.
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