Stocks jump after US jobs report beats forecasts
THE ASSOCIATED PRESS June 7, 2013 8:48AM
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. | AP file photo
Updated: June 7, 2013 4:31PM
NEW YORK — The stock market is closing sharply higher after the government reported a pickup in hiring last month.
The Dow Jones Industrial average rose 207 points, or 1.4 percent, to 15,248 Firday. It was the Dow’s second-biggest gain this year.
Boeing led the Dow higher with a gain of 2.7 percent.
The Standard & Poor’s 500 rose 20 points, or 1.3 percent, to 1,643. The Nasdaq rose 45 points, or 1.3 percent, to 3,469.
Indexes rose after the government reported that employers added 175,000 jobs last month, slightly more than expected. More people also started looking for work.
Investors still expect the Federal Reserve to continue its stimulus.
Two stocks rose for every one that fell on the New York Stock Exchange. Volume was lighter than usual at 3.3 billion shares.