Markets Right Now: Strong hiring sends stocks, yields up - InfoNews

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Markets Right Now: Strong hiring sends stocks, yields up

FILE - In this Oct. 8, 2014, file photo, American flags fly in front of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, March 8, 2018. (AP Photo/Mark Lennihan, File)
March 09, 2018 - 8:59 AM

NEW YORK - The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks and bond yields rose on Wall Street after the government reported a big increase in hiring last month.

Investors were relieved Friday to see that wage growth slowed down. A jump in wages a month ago raised worries about inflation and spooked investors.

Technology companies are climbing and banks are rising in tandem with interest rates.

Friday marks the ninth birthday of the current bull market, which is the second-longest since World War II.

The S&P 500 rose 29 points, or 1.1 per cent, to 2,768.

The Dow Jones industrial average gained 271 points, or 1.1 per cent, to 25,166. The Nasdaq rose 90 points, or 1.2 per cent, to 7,517, on its way to a record high.

Bond prices fell. The yield on the 10-year Treasury rose to 2.90 per cent.

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9:35 a.m.

Stocks and bond yields rose in early trading on Wall Street after the government reported a surprisingly big increase in hiring last month.

The Labor Department reported early Friday that U.S. employers added 313,000 jobs in February, more than anticipated and the most since July 2016.

Wages also grew, but not as much as in January. An unexpected jump in wages a month ago raised worries about inflation and spooked investors.

Friday marks the ninth birthday of the current bull market, which is the second-longest since World War II.

The Standard & Poor's 500 index rose 14 points, or 0.5 per cent, to 2,753.

The Dow Jones industrial average gained 141 points, or 0.6 per cent, to 25,036. The Nasdaq composite rose 47 points, or 0.7 per cent, to 7,477.

News from © The Associated Press, 2018
The Associated Press

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