Stocks edge up after US jobs grow at healthy clip
NEW YORK (AP) — U.S. stocks are opening higher after the government said employers hired at a good clip for the fourth month in a row.
Employers added 217,000 jobs in May, in line with what economists expected. The unemployment rate stayed put at 6.3 percent.
Hertz slumped 10 percent after the company said it needed to redo its financial results for the past three years because of accounting errors.
The Standard & Poor’s 500 index rose three points, or 0.2 percent, to 1,944 in early trading Friday. The index reached another all-time high the day before.
The Dow Jones industrial average rose 42 points, or 0.3 percent, to 16,879. The Nasdaq composite increased 10 points, or 0.3 percent, to 4,307.
The yield on the 10-year Treasury note edged down to 2.57 percent.