Markets Right Now: Stocks climb following strong jobs report

MarketsAssociated Press

The latest on developments in financial markets (all times local):

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4 p.m.

The stock market clawed back most of the ground it lost earlier this week following a surprisingly robust jobs report for last month.

Technology companies led the way higher Friday, as they have all year. Alphabet, Google's parent company, climbed 3.2 percent and Apple increased 1.8 percent.

Bond yields and the dollar also rose after the government report showed that the job market continued to strengthen in May.

The S&P 500 rose 28 points, or 1.1 percent, to 2,734, erasing its losses from earlier in the week.

The Dow Jones industrial average rose 219 points, or 0.9 percent, to 24,635. The Nasdaq composite climbed 112 points, or 1.5 percent, to 7,554.

Bond prices fell. The yield on the 10-year Treasury rose to 2.90 percent.

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11:45 a.m.

Stocks and bond yields are higher in midday trading following an encouraging job report.

The benchmark S&P 500 index was on pace to erase its losses from earlier in the week after the Labor Department reported that the unemployment rate fell to an 18-year low of 3.8 percent in May.

Technology companies and banks led the way higher. Google's parent company, Alphabet, climbed 3.2 percent and Bank of America rose 1.4 percent.

The S&P 500 rose 26 points, or 1 percent, to 2,731.

The Dow Jones industrial average rose 207 points, or 0.8 percent, to 24,624. The Nasdaq composite climbed 103 points, or 1.4 percent, to 7,545.

Bond prices fell. The yield on the 10-year Treasury rose to 2.89 percent.

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9:35 a.m.

Stocks are opening solidly higher on Wall Street after the government reported another strong month of hiring.

Banks and technology companies led the pack in early trading Friday after the Labor Department reported that the unemployment rate fell to an 18-year low of 3.8 percent in May.

Bank of America rose 1.8 percent and Google's parent company, Alphabet, climbed 1.7 percent.

Several retailers were falling after releasing disappointing results or forecasts. Big Lots slumped 11 percent and GameStop fell 1.9 percent.

The S&P 500 index rose 19 points, or 0.7 percent, to 2,724.

The Dow Jones industrial average rose 197 points, or 0.8 percent, to 24,610. The Nasdaq composite climbed 59 points, or 0.8 percent, to 7,501.

Bond prices fell. The yield on the 10-year Treasury rose to 2.91 percent.