News of robust hiring in US month sends bonds lower, dollar higher; Apple gains, will join Dow

Markets Associated Press

News of a burst of hiring last month sent bond prices lower and the dollar higher in early trading in the U.S., while the stock market opened lower.

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Apple rose 1 percent early Friday after it was announced that the company would be joining the Dow Jones industrial average, replacing AT&T. AT&T fell 1 percent.

The Dow Jones industrial average was down 107 points, or 0.6 percent, to 18,024 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 lost nine points, or 0.4 percent, to 2,091. The Nasdaq fell 10 points, or 0.2 percent, to 4,971.

Bond prices fell, sending yields higher, after the Labor Department reported that U.S. employers extended a healthy streak of hiring in February. That could give the Federal Reserve room to raise rates.