Strong Hiring Sends Stocks, Yields Up

Nasdaq hits another record high
By Newser Editors and Wire Services
Posted Mar 9, 2018 3:44 PM CST
This Oct. 8, 2014 file photo shows a Wall Street address carved in the side of a building in New York.   (AP Photo/Mark Lennihan, File)

(Newser) – Stocks and bond yields rose sharply Friday on Wall Street after the government reported a big increase in hiring last month, the AP reports. Investors were relieved to see that wage growth slowed. A jump in wages a month ago raised worries about inflation. Technology companies wiped out the last of their losses from a steep market plunge a month ago. Banks climbed in tandem with interest rates. Friday marks nine years since the beginning of the current bull market, the second-longest since World War II.

The S&P 500 rose 47 points, or 1.7%, to 2,786. The Dow Jones industrial average jumped 440 points, or 1.8%, to 25,335. The Nasdaq rose 132 points, or 1.8%, to 7,560, another record high. The yield on the 10-year Treasury rose to 2.9%.

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