Stock market rises after US hiring picks up in May

NEW YORK (AP) — The stock market is rising in early trading after the government reported a pickup in hiring last month, a positive sign for the U.S. economy.

The Dow Jones industrial average rose 68 points to 15,106 shortly after the market opened Friday, an increase of 0.4 percent.

The Standard & Poor’s 500 index rose seven points to 1,629, a gain of 0.5 percent. The Nasdaq composite rose 10 points to 3,434, a gain of 0.3 percent.

Investors were reacting positively to news that U.S. employers added 175,000 jobs in May, slightly more than economists were expecting and a level consistent with steady hiring.

Clothing store chain Gap rose after reporting higher sales for May.

The yield on the 10-year Treasury note rose to 2.11 percent from 2.08 percent late Thursday.

KSN.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus