Stocks Close at Record Highs, but It's Not All Good News

Dollar goes lower, bond yields are at lowest level of year
By Newser Editors and Wire Services
Posted Jun 2, 2017 3:11 PM CDT
Kevin Walsh, right, moves between fellow traders as he works on the floor of the New York Stock Exchange, Friday, May 26, 2017.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing at record highs, but a slowdown in hiring last month pushed the dollar lower and sent bond yields to their lowest level of the year, the AP reports. The government said Friday that employers added 138,000 jobs in May. Bond prices rose, sending yields lower. Investors tend to move money into bonds when they see signs of weakness in the economy. The yield on the 10-year Treasury fell to 2.15%. Tech companies rose the most. Microsoft jumped 2.4% and Apple rose 1.5%. Broadcom gained 8.5% on strong earnings. The Standard & Poor's 500 index rose 9 points, or 0.4%, to 2,439. The Dow Jones industrial average rose 60 points, or 0.3%, to 21,205. The Nasdaq composite climbed 59 points, or 0.9%, to 6,306. (Read more stock market stories.)

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