News Summary: Stocks gain after strong jobs report

AP News
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Posted: Nov 08, 2013 5:38 PM

JOBS BOOST: The stock market got a boost from a surprisingly strong October jobs report. The Dow Jones industrial average climbed to a record, led by banks.

HIGHER YIELDS: The yield on the 10-year Treasury note climbed to its highest since Sept. 20 after the jobs report. Rising Treasury yields lead to higher mortgage rates and the stocks of Homebuilders like Lennar and PulteGroup fell.

THE DAY AFTER: Twitter's stock dropped the day after its market debut. The social media company slumped $3.25, or 7.2 percent, to close at $41.65 Friday. It surged 73 percent on its first day of trading Thursday.