Stocks move higher as US jobs grow at healthy clip

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Associated Press

Posted on June 6, 2014 at 2:02 PM

Updated Friday, Jun 6 at 2:02 PM

NEW YORK (AP) — Stocks are closing higher after the U.S. government reported more healthy job growth in May.

The Standard & Poor's 500 index notched its eighth record high in the last 10 trading days.

U.S. employers added 217,000 jobs last month, in line with forecasts. The unemployment rate stayed put at 6.3 percent.

One loser was the car-rental company Hertz, which plunged 9 percent after saying it would have to restate three years of results because of accounting errors.

The S&P 500 rose nine points, or 0.5 percent, to close at 1,949 Friday.

The Dow Jones industrial average rose 88 points, or 0.5 percent, to 16,924. The Nasdaq composite increased 25 points, or 0.6 percent, to 4,321.

The yield on the 10-year Treasury note was flat at 2.59 percent.

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