US job gains send stocks higher in early trade

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Associated Press

Posted on May 2, 2014 at 9:00 AM

Updated Friday, May 2 at 9:05 AM

NEW YORK (AP) — The biggest hiring surge in two years is sending the stock market higher in early trading.

The gains were muted early Friday as several U.S. companies reported weaker earnings.

The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,886 in the first few minutes of trading.

The Dow Jones industrial average rose 28 points, or 0.2 percent, to 16,584.

The Dow and S&P are near all-time highs.

Integrys Energy and Public Storage fell after their earnings missed investors' estimates.

The government reported that U.S. employers added 288,000 jobs in April, the most in two years and the strongest evidence to date that the economy is picking up after a brutal winter.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.66 percent.

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