Stock indexes snap higher in early trading after US reports a pickup in hiring last month

Markets Associated Press

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

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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. Eastern time.

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.