Dow hits 15K mark after hiring climbs - Dallas News | myFOXdfw.com

Dow hits 15K mark after hiring climbs

Posted: Updated:

A big gain in the job market is lifting the stock market to a record high.

The Dow Jones industrial average crossed 15,000 for the first time, and the Standard and Poor's 500 index, a broader market measure, rose above 1,600.

In the first hour of trading Friday, the Dow Jones industrial average jumped 173 points to 15,004, a gain of 1.2 percent.

The S&P 500 index surged 20 points, or 1.3 percent, to 1,618. It has been thirteen years since the broad stock-market index broke through 1,500.

The government said U.S. employers added 165,000 jobs in April, more than economists were expecting. It also said more jobs were created in February and March than it had estimated earlier.

The unemployment rate also fell to 7.5 percent, the lowest in four years, from 7.6 percent the month before.

A series of weak manufacturing reports, disappointing retail sales in March, signs of an economic slowdown in China and mixed earnings reports for the first quarter have rattled the market in recent weeks. Friday's jobs numbers are reassuring investors.

The S&P 500 is up 13 percent from the start of the year. The Dow is up 14 percent.

When the jobs numbers were announced at 8:30 a.m. Eastern Daylight Time, gold dropped, oil rose and the dollar strengthened against the yen.

The yield on the benchmark 10-year Treasury note rose sharply as traders moved money out of bonds and into riskier assets like stocks. The yield rose to 1.72 percent from 1.63 percent the day before, its lowest level of the year.

The Nasdaq composite rose 47 points, or 1.4 percent, to 3,387.

  • Your MoneyMore>>

  • Bed bug infestation at money firm PIMCO, report says

    Bed bug infestation at money firm PIMCO, report says

    Wednesday, August 20 2014 6:55 PM EDT2014-08-20 22:55:02 GMT
    A big money management firm in New York City has been hit with a major infestation of bed bugs, according to Fox Business Network. Stock traders who do business with Pacific Investment Management Co., better known as PIMCO, told Fox Business' Charles Gasparino that hundreds of people have been relocated from one of the firm's buildings in New York City to an undisclosed upstate location after reports of widespread bed bug bites among executives and employees.
    A big money management firm in New York City has been hit with a major infestation of bed bugs, according to Fox Business Network. Stock traders who do business with Pacific Investment Management Co., better known as PIMCO, told Fox Business' Charles Gasparino that hundreds of people have been relocated from one of the firm's buildings in New York City to an undisclosed upstate location after reports of widespread bed bug bites among executives and employees.
  • Five Guys offers bacon milkshakes

    Five Guys offers bacon milkshakes

    Wednesday, August 20 2014 6:47 PM EDT2014-08-20 22:47:08 GMT
    Burger chain Five Guys is testing the adage that everything tastes better with bacon. It is rolling out a customizable milkshake program and along with bananas, peanut butter, Oreo cookies, salted caramel, you can chose bacon.  Yes that's right: a bacon milkshake.
    Burger chain Five Guys is testing the adage that everything tastes better with bacon. It is rolling out a customizable milkshake program and along with bananas, peanut butter, Oreo cookies, salted caramel, you can chose bacon.  Yes that's right: a bacon milkshake.
  • Designer clothes at giant thrift shop in NJ

    Designer clothes at giant thrift shop in NJ

    Wednesday, August 20 2014 5:57 PM EDT2014-08-20 21:57:04 GMT
    Like most soon-to-be third graders, Sonja knows what she's looking for when it comes to back-to-school shopping. For kids trying to be fashionable -- and parents looking to keep it affordable -- there's the Ocean County Hunger Relief Warehouse in Toms River, New Jersey. It's basically a huge thrift shop.
    Like most soon-to-be third graders, Sonja knows what she's looking for when it comes to back-to-school shopping. For kids trying to be fashionable -- and parents looking to keep it affordable -- there's the Ocean County Hunger Relief Warehouse in Toms River, New Jersey. It's basically a huge thrift shop.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices