Jobs gain report sways Wall Street

NEW YORK (AP) — A surprising jump in hiring is swaying stock and bond markets.

An early decline in stock index futures was trimmed after payroll processor ADP reported employers added 297,000 jobs last month. The jump in payrolls from the ADP survey came in far above the 100,000 rise economists expected. That could be a good sign for the Labor Department’s monthly jobs report due out Friday.

The dollar rose against other major currencies. The dollar index, which tracks the greenback against six countries’ currencies, is up 0.7 percent. Treasurys took a slide, pushing yields higher. The yield on the 10-year note rose to 3.40 percent, up from 3.33 percent late Tuesday.