Uncategorized
Stocks Surge to New Highs After Hiring Climbs

A big gain in the job market is lifting the stock market to new milestones.

The Dow Jones industrial average crossed 15,000 for the first time early Friday, and the Standard and Poor’s 500 index, a broader market measure, broke through 1,600 for the first time.

Shortly after 1 p.m. Eastern Daylight Time, the Dow had given up some of its early gain but was still up 170 points to 15,001, an increase of 1.1 percent. The S&P 500 index surged 19 points, or 1.2 percent, to 1,617.

The surge in U.S. hiring comes after weeks of conflicting signals about the strength of the global economy and the stock market’s rise. The unexpectedly strong numbers gave investors new confidence, and eased some of their earlier concerns.

Read more…