NEW YORK – U.S. stocks are moving higher in midday trading after the government reported surprisingly big job gains last month.
Bond prices fell and yields rose Friday as investors anticipated that the burst in hiring would result in stronger economic growth and higher interest rates.
Twitter and LinkedIn rose sharply after delivering strong results. Yelp and Pandora Media plunged.
The Dow Jones industrial average rose 40 points, or 0.2 percent, to 17,925 as of 11:45 a.m. Eastern time.
The Standard & Poor's 500 rose six points, or 0.3 percent, to 2,069. The Nasdaq rose 16 points, or 0.3 percent, to 4,781.
Before trading opened, the government reported that U.S. employers added 257,000 jobs last month, more than economists expected.
The yield on the 10-year Treasury note rose sharply, to 1.94 percent.
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