Dow hits another high on October hiring surge

Dow hits another high on October hiring surge

November 8th, 2013 by Associated Press in Local - Breaking News

A specialist works at his post on the floor of the New York Stock Exchange.

Photo by Associated Press /Times Free Press.

NEW YORK - The Dow Jones industrial average is closing at another record high after the government reported an unexpected surge in hiring in October.

The Dow rose 167 points, or 1.1 percent, at 15,761. JPMorgan Chase and Goldman Sachs rose the most in the Dow. The index also closed at a record high on Wednesday.

The Standard & Poor's 500 rose 23 points, or 1.3 percent, to 1,770, just one point below the all-time high it set on Oct. 29.

The Nasdaq composite rose 61 points, or 1.6 percent, to 3,919.

Trading volume was heavier than usual.

Treasury prices fell after the U.S. reported that employers added 204,000 jobs last month, more than economists expected. The yield on the 10-year note jumped to 2.75 percent, the highest in six weeks.