News Column

US stocks move higher after employers add solid number of jobs; Hertz slumps

June 6, 2014

The Associated Press

NEW YORK, N.Y. - 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 per cent.

Hertz plunged 9 per cent 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 per cent, 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 per cent, to 16,901. The Nasdaq composite increased 21 points, or 0.5 per cent, to 4,317.

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

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Source: Canadian Press DataFile