Stock Market Rises After Strong US Jobs Report
NEW YORK (AP) — Robust hiring in the U.S. is boosting the stock market in early trading.
The government says employers added 195,000 jobs in June. Economists had predicted a gain of 165,000. The unemployment rate remained at 7.6 percent.
The Dow Jones industrial average was up 76 points, or 0.5 percent, at 15,065 shortly after the market opened Friday. The Standard & Poor’s 500 rose nine points, also 0.5 percent, to 1,624.
The Nasdaq climbed 17 points, or 0.5 percent, to 3,461.
Other markets are showing big movements. The yield on the 10-year Treasury note jumped to a two-year high of 2.70 percent, up from 2.56 percent shortly before the jobs report came out. It was a sign that investors think the economy is improving.
The dollar rose and gold fell.
Copyright 2013 The Associated Press.