Markets Right Now: Strong hiring news sends stocks higher

AP News
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Posted: Feb 03, 2017 9:40 AM

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

9:35 a.m.

Stocks rose in early trading after the government reported that U.S. employers stepped up their hiring last month.

The gain of 227,000 jobs in January was the biggest increase since September, the Labor Department reported early Friday.

The unemployment rate also edged higher because more Americans were looking for work.

Visa jumped 4 percent in early trading after the giant payment processing company reported earnings and revenue that easily beat analysts' forecasts.

The Standard & Poor's 500 index rose 9 points, or 0.4 percent, to 2,290.

The Dow Jones industrial average rose 101 points, or 0.5 percent, to 19,983. The Nasdaq composite increased 18 points, or 0.3 percent, to 5,654.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.45 percent.