Markets Right Now: Strong jobs report sends stocks higher

AP News
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Posted: May 05, 2017 11:52 AM

The latest on developments in financial markets (All times local):

11:45 a.m.

Stocks are modestly higher in midday trading on Wall Street after the government reported a pickup in hiring last month.

U.S. employers added 211,000 jobs in April, the Labor Department reported early Friday, which reassured investors that the economy was growing faster after a sluggish first three months of the year.

CBS rose 0.9 percent after reporting higher profits than analysts were expecting.

IBM slumped 2.4 percent after billionaire investor Warren Buffett said he had sold some of his stake in the company.

The Standard & Poor's 500 index rose 2 points, or 0.1 percent, to 2,392.

The Dow Jones industrial average fell 11 points, less than 0.1 percent, to 20,939, dragged down by the decline in IBM. The Nasdaq composite gained 2 points, or 0.1 percent, to 6,077.

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9:35 a.m.

Stocks are modestly higher in early trading on Wall Street after the government reported a pickup in hiring last month.

U.S. employers added 211,000 jobs in April, the Labor Department reported early Friday, which reassured investors that the economy was picking up after a sluggish first three months of the year.

CBS rose 1.9 percent after reporting higher profits than analysts were expecting.

IBM slumped 2.7 percent after billionaire investor Warren Buffett said he had sold some of his stake in the company.

The Standard & Poor's 500 index rose 4 points, or 0.2 percent, to 2,393.

The Dow Jones industrial average fell 11 points, less than 0.1 percent, to 20,935. The Nasdaq composite gained 14 points, or 0.2 percent, to 6,088.