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Stock indexes gain after U.S. reports hiring gains last month

The New York Stock Exchange on July 15,

The New York Stock Exchange on July 15, 2013. Credit: AP / Mark Lennihan

Stocks are snapping higher in early trading after the U.S. government reported an encouraging pickup in hiring last month.

The gain of 223,000 jobs to payrolls in April, which the Labor Department reported early Friday, suggested that the economy may be regaining its footing after a slow start to the year.

The Dow Jones industrial average climbed 187 points, or 1.1 percent, to 18,111 as of 9:35 a.m. Friday on Wall Street.

The Standard & Poor's 500 index gained 20 points, or 1 percent, to 2,108. The Nasdaq composite rose 52 points, or 1.1 percent, to 4,997.

Monster Beverage sank 5 percent after reporting results that fell short of analysts' forecasts. CBS gained 2 percent after beating estimates.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.11 percent.

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