Markets Right Now: Strong jobs report sends stocks higher
By Associated Press
Jul 8, 2016 3:11 PM CDT

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

4:00 p.m.

Stocks closed with big gains on Wall Street after a solid jobs report for June, putting the Standard & Poor's 500 index within a point of its record high close reached a bit more than a year ago.

The rally was extraordinarily broad. Nearly all of the stocks in the S&P 500 index rose Friday.

Materials and industrial companies rose the most. DuPont and Caterpillar each rose 3 percent.

Gap jumped 5 percent after reporting strong sales for June.

The Dow Jones industrial average rose 250 points, or 1.4 percent, to 18,146.

The Standard & Poor's 500 index gained 32 points, or 1.5 percent, to 2,129. The Nasdaq composite rose 79 points, or 1.6 percent, to 4,956.

Bond prices rose. The yield on the 10-year Treasury fell to 1.36 percent.

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11:45 a.m.

Stocks are solidly higher in midday trading on Wall Street after the government reported an encouraging burst of hiring last month.

The gain of 287,000 jobs in June, which the Labor Department reported early Friday, was far more than economists were expecting.

The unemployment rate edged higher as more people started looking for work, another positive sign for the economy.

Gap jumped 5 percent after reporting strong sales for June.

The Dow Jones industrial average rose 197 points, or 1.1 percent, to 18,093.

The Standard & Poor's 500 index gained 26 points, or 1.3 percent, to 2,124. The Nasdaq composite rose 69 points, or 1.4 percent, to 4,946.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 1.39 percent.

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9:35 a.m.

Stocks are opening solidly higher on Wall Street after the government reported an encouraging burst of hiring last month.

The gain of 287,000 jobs in June, which the Labor Department reported early Friday, was far more than economists were expecting.

The unemployment rate edged higher as more people started looking for work, another positive sign for the economy.

Gap jumped 5 percent after reporting strong sales for June.

The Dow Jones industrial average rose 125 points, or 0.7 percent, to 18,015.

The Standard & Poor's 500 index gained 14 points, or 0.7 percent, to 2,112. The Nasdaq composite rose 32 points, or 0.7 percent, to 4,910.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 1.39 percent.