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Markets Right Now: Strong hiring sends stocks, yields up

March 9, 2018

FILE - This Oct. 8, 2014, file photo shows a Wall Street address carved in the side of a building, in New York. The U.S. stock market opens at 9:30 a.m. EST on Friday, March 9, 2018. (AP Photo/Mark Lennihan, File)

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

4 p.m.

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

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

Technology companies wiped out the last of their losses from a steep market plunge a month ago. Banks climbed in tandem with interest rates.

Friday marks nine years since the beginning of the current bull market, the second-longest since World War II.

The S&P 500 rose 47 points, or 1.7 percent, to 2,786.

The Dow Jones industrial average jumped 440 points, or 1.8 percent, to 25,335. The Nasdaq rose 132 points, or 1.8 percent, to 7,560, another record high.

The yield on the 10-year Treasury rose to 2.90 percent.

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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 percent, to 2,768.

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

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

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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 percent, to 2,753.

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

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