Stocks move higher as US jobs grow at healthy clip

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Associated Press

Posted on June 6, 2014 at 11:06 AM

Updated Friday, Jun 6 at 11:12 AM

NEW YORK (AP) — Stocks are moving higher at midday after the U.S. government reported more healthy job growth in May.

U.S. employers added 217,000 jobs in May, in line with what economists expected. The unemployment rate stayed put at 6.3 percent.

Hertz plunged 9 percent after the car-rental company saying it would need to restate three years of financial results because of accounting errors.

The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,947 as of noon Eastern time Friday. The index reached another all-time high the day before.

The Dow Jones industrial average rose 65 points, or 0.4 percent, to 16,901. The Nasdaq composite increased 21 points, or 0.5 percent, to 4,317.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.57 percent.

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