Markets Right Now: Strong hiring news sends stocks higher

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Markets Right Now: Strong hiring news sends stocks higher
FILE - This Oct. 8, 2014, file photo shows a Wall Street address carved in the side of a building, in New York. The U.S. stock market opens at 9:30 a.m. EST on Friday, March 9, 2018. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks and bond yields rose in early trading on Wall Street after the government reported a surprisingly big increase in hiring last month.

The Labor Department reported early Friday that U.S. employers added 313,000 jobs in February, more than anticipated and the most since July 2016.

Wages also grew, but not as much as in January. An unexpected jump in wages a month ago raised worries about inflation and spooked investors.

Friday marks the ninth birthday of the current bull market, which is the second-longest since World War II.

The Standard & Poor’s 500 index rose 14 points, or 0.5 percent, to 2,753.

The Dow Jones industrial average gained 141 points, or 0.6 percent, to 25,036. The Nasdaq composite rose 47 points, or 0.7 percent, to 7,477.