Markets

Markets Right Now: Strong hiring report sends stocks higher

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

4:00 p.m.

Stocks are closing higher on Wall Street after the government reported another solid month of hiring by U.S. employers.

Bond prices fell and yields rose Friday, which sent shares of banks and financial companies surging. Bank of America gained 2.5 per cent.

Technology companies also climbed. Microchip Technology rose 3.5 per cent.

Weight Watchers soared 25 per cent after reporting a strong quarter while Viacom, the media company that owns Comedy Central and MTV, sank 13.8 per cent.

The Standard & Poor’s 500 index rose 4 points, or 0.2 per cent, to 2,476.

The Dow Jones industrial average rose 66 points, or 0.3 per cent, to 22,092. The Nasdaq composite climbed 11 points, or 0.2 per cent, to 6,35.

The yield on the 10-year Treasury note rose to 2.26 per cent.

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11:45 a.m.

U.S. stocks are rising in midday trading following a jobs report that was better than most experts expected.

Bond prices fell and yields rose Friday, which sent shares of banks and financial companies surging. Technology companies also climbed.

Investors remained focused on corporate earnings. Weight Watchers soared 25 per cent after reporting a strong quarter while Viacom, the media company that owns Comedy Central and MTV, sank 11 per cent.

The Standard & Poor’s 500 index rose 4 points, or 0.2 per cent, to 2,476.

The Dow Jones industrial average rose 35 points, or 0.2 per cent, to 22,060. The Nasdaq composite climbed 12 points, or 0.2 per cent, to 6,352.

The yield on the 10-year Treasury note rose to 2.27 per cent.

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9:35 a.m.

Stocks are opening modestly higher on Wall Street after the government reported another month of solid job gains.

Banks and technology companies rose the most in early trading Friday. JPMorgan Chase rose 1.2 per cent and Cognizant Technology rose 1.5 per cent.

The Labor Department reported that U.S. employers added 209,000 jobs in July, the second straight month of strong gains.

In earnings news, engineering company Fluor sank 7 per cent after reporting a surprise loss in its most recent quarter.

The Dow Jones industrial average rose 43 points, or 0.2 per cent, to 22,069.

The Standard & Poor’s 500 index gained 5 points, or 0.2 per cent, to 2,477. The Nasdaq composite climbed 12 points, or 0.2 per cent, to 6,352.

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