Stock market rises after US hiring picks up in May

NEW YORK (AP) — The stock market is rising in early trading after the government reported a pickup in hiring last month, a positive sign for the U.S. economy.

The Dow Jones industrial average rose 68 points to 15,106 shortly after the market opened Friday, an increase of 0.4 percent.

The Standard & Poor’s 500 index rose seven points to 1,629, a gain of 0.5 percent. The Nasdaq composite rose 10 points to 3,434, a gain of 0.3 percent.

Investors were reacting positively to news that U.S. employers added 175,000 jobs in May, slightly more than economists were expecting and a level consistent with steady hiring.

Clothing store chain Gap rose after reporting higher sales for May.

The yield on the 10-year Treasury note rose to 2.11 percent from 2.08 percent late Thursday.

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