NEW YORK (AP) — U.S. stocks were mixed and mostly flat after the government reported a surge in hiring last month and the lowest unemployment rate in seven years.
The government's surprisingly strong monthly jobs report is good news, bad news for stocks. It shows a stronger economy, but it could also lead the Federal Reserve to raise interest rates next month. That in effect reduces the amount of money investors have to bet on stocks.
The Dow Jones industrial average was up 35 points, or 0.2 percent, to 17,898 as of 9:35 a.m. Eastern time.
The Standard & Poor's 500 index was down 1 point to 2,098. The Nasdaq composite 3 points to 5,125.
Bond prices fell sharply. The yield on the 10-year Treasury note rose to 2.31 percent.