Dow jumps 200 points after surge in hiring
Traders Anthony Riccio, left, and Patrick Casey work on the floor of the New York Stock Exchange, Thursday, Oct. 2, 2014. Credit: AP / Richard Drew
Stocks are surging after the government reported a burst of hiring last month.
The Dow Jones industrial average jumped 207 points, or 1.3 percent, to 17,008 as of 12:45 p.m. on Wall Street Friday.
The Standard & Poor's 500 rose 22 points, or 1.2 percent, to 1,969.
The government reported that employers added 248,000 jobs in September. The unemployment rate fell to 5.9 percent, the lowest since July 2008.
The dollar surged 1 percent against the euro and the yen as traders anticipated higher U.S. interest rates and economic growth. Prices for gold and U.S. government bonds fell for the same reason.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
