banner
Business

Markets Right Now: Strong hiring report sends stocks higher

Posted July 7

— The latest on developments in financial markets (All times local):

4:00 p.m.

U.S. stocks closed higher after the government reported a solid pickup in hiring in June.

Technology and consumer-focused companies made some of the biggest gains Friday.

Facebook rose 1.8 percent and Applied Materials rose 3.5 percent. McDonald's rose 2.1 percent.

The positive sign for the job market came a day after a disappointing measure of hiring by private companies, which sent stocks to their biggest loss since mid-May.

The Standard & Poor's 500 index rose 15 points, or 0.6 percent, to 2,425. The Dow Jones industrial average gained 94 points, or 0.4 percent, to 21,414.

The Nasdaq composite increased 63 points, or 1 percent, to 6,153.

Bond prices fell. The yield on the 10-year Treasury rose to 2.39 percent.

___

11:45 a.m.

U.S. stocks are solidly higher after the government said hiring grew at a stronger pace in June.

Technology companies and consumer-focused firms are making some of the biggest gains Friday.

Investors were relieved to see the positive sign on the job market, which came a day after stocks took their biggest loss since mid-May following a disappointing measure of hiring by private companies.

Facebook rose 1.7 percent and Applied Materials rose 3.1 percent.

The Standard & Poor's 500 index rose 13 points, or 0.3 percent, to 2,423. The Dow Jones industrial average gained 90 points, or 0.4 percent, to 21,410.

The Nasdaq composite increased 59 points, or 1 percent, to 6,149.

Bond prices fell. The yield on the 10-year Treasury rose to 2.39 percent.

___

9:35 a.m.

Stocks are opening higher after the government said hiring increased at a solid pace in June.

Technology, health care companies and banks posted the biggest gains in early trading Friday. The gains came a day after the market had its biggest drop since mid-May.

Facebook rose 1 percent and Applied Materials rose 2.4 percent.

The Standard & Poor's 500 index rose 7 points, or 0.3 percent, to 2,416. The Dow Jones industrial average gained 49 points, or 0.2 percent, to 21,363.

The Nasdaq composite increased 31 points, or 0.5 percent, to 6,120.

Bond prices fell. The yield on the 10-year Treasury rose to 2.38 percent.

Comments

Please with your WRAL.com account to comment on this story. You also will need a Facebook account to comment.

Oldest First
View all