Dow hits 15K mark after hiring climbs - FOX 35 News Orlando

Dow hits 15K mark after hiring climbs

Posted: Updated:

A big gain in the job market is lifting the stock market to a record high.

The Dow Jones industrial average crossed 15,000 for the first time, and the Standard and Poor's 500 index, a broader market measure, rose above 1,600.

In the first hour of trading Friday, the Dow Jones industrial average jumped 173 points to 15,004, a gain of 1.2 percent.

The S&P 500 index surged 20 points, or 1.3 percent, to 1,618. It has been thirteen years since the broad stock-market index broke through 1,500.

The government said U.S. employers added 165,000 jobs in April, more than economists were expecting. It also said more jobs were created in February and March than it had estimated earlier.

The unemployment rate also fell to 7.5 percent, the lowest in four years, from 7.6 percent the month before.

A series of weak manufacturing reports, disappointing retail sales in March, signs of an economic slowdown in China and mixed earnings reports for the first quarter have rattled the market in recent weeks. Friday's jobs numbers are reassuring investors.

The S&P 500 is up 13 percent from the start of the year. The Dow is up 14 percent.

When the jobs numbers were announced at 8:30 a.m. Eastern Daylight Time, gold dropped, oil rose and the dollar strengthened against the yen.

The yield on the benchmark 10-year Treasury note rose sharply as traders moved money out of bonds and into riskier assets like stocks. The yield rose to 1.72 percent from 1.63 percent the day before, its lowest level of the year.

The Nasdaq composite rose 47 points, or 1.4 percent, to 3,387.

  • Your MoneyMore>>

  • Facebook tries satire label

    Facebook tries satire label

    Tuesday, August 19 2014 10:32 PM EDT2014-08-20 02:32:56 GMT
    We've all fallen for at least one joke in our lives, probably some internet hoax meant to get a rise out of people. But now Facebook is trying to stop the spread of those fake jokes and stories. When you get the day's headlines from your social media news feed, it can be a challenge to figure out what might be made up or what might be the shocking truth.
    We've all fallen for at least one joke in our lives, probably some internet hoax meant to get a rise out of people. But now Facebook is trying to stop the spread of those fake jokes and stories. When you get the day's headlines from your social media news feed, it can be a challenge to figure out what might be made up or what might be the shocking truth.
  • Report: Facebook, Google want your kids

    Report: Facebook, Google want your kids

    Tuesday, August 19 2014 10:22 PM EDT2014-08-20 02:22:36 GMT
    Kids already spend plenty of time on computers and smart phones. Now Google reportedly wants to get youngsters set up with their own Gmail and YouTube accounts. Some parents told us they aren't thrilled with the idea. Currently, Internet companies such as Google and Facebook do not offer their services to children under 13, but many youngsters and their parents find a workaround.
    Kids already spend plenty of time on computers and smart phones. Now Google reportedly wants to get youngsters set up with their own Gmail and YouTube accounts. Some parents told us they aren't thrilled with the idea. Currently, Internet companies such as Google and Facebook do not offer their services to children under 13, but many youngsters and their parents find a workaround.
  • NJ weighs gambling outside Atlantic City

    NJ weighs gambling outside Atlantic City

    Tuesday, August 19 2014 3:32 PM EDT2014-08-19 19:32:06 GMT
    Momentum to shift some gambling away from Atlantic City increased Tuesday as a state senator introduced plans for a constitutional amendment that would put slot machines at New Jersey's four horse racing tracks, a business group increased its planning for an anticipated full-blown casino at the Meadowlands sports complex and the state gave final approval for the Showboat to shut down.
    Momentum to shift some gambling away from Atlantic City increased Tuesday as a state senator introduced plans for a constitutional amendment that would put slot machines at New Jersey's four horse racing tracks, a business group increased its planning for an anticipated full-blown casino at the Meadowlands sports complex and the state gave final approval for the Showboat to shut down.
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices