Markets Right Now: Hiring gains send stock indexes higher
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are opening with solid gains on Wall Street after the government reported that hiring in the U.S. jumped last month to the highest level since January.
Companies that stand to benefit the most from a growing economy rose the most in early trading Friday.
Technology and industrial companies climbed, as did banks. Micron Technology rose 2.7%, 3M added 3.2% and JPMorgan Chase rose 1.6%.
The S&P 500 rose 24 points, or 0.8% to 3,141.
The Dow Jones Industrial Average rose 235 points, or 0.8%, to 27,914. The Nasdaq rose 68 points, or 0.8%, to 8,639.
Bond prices fell sharply, sending yields higher, as investors moved money out of safe-haven assets and became more bullish on the economy.
The yield on the 10-year Treasury jumped to 1.85%.