Another strong month of hiring sends stock indexes higher

NEW YORK (AP) — U.S. stocks rose today after a jobs report that was better than most experts expected.

Bond prices fell and yields rose, which sent shares of banks and other financial companies surging. Investors remained focused on corporate earnings. Weight Watchers climbed after reporting a strong quarter while Viacom, the media company that owns Comedy Central and MTV, sank.

The Standard & Poor's 500 index added 3 points, or 0.1 percent, to 2,475 as of 1:15 p.m. Eastern time. The Dow Jones industrial average rose 38 points, or 0.2 percent, to 22,064. It is on pace for its ninth gain in a row. The Nasdaq composite climbed 4 points, or 0.1 percent, to 6,344. The Russell 2000 index of smaller companies gained 7 points, or 0.5 percent, to 1,412.

July was the second consecutive month of strong hiring, suggesting the U.S. economy is still growing steadily as countries in Europe and emerging-markets areas come out of long slumps.

"The economy is in pretty good shape," said Paul Zemsky, chief investment officer for the multiasset business of Voya Investment Strategies. "We're seeing for the first time more of a globally synchronized growth."

He said that will lead to a stronger global economy and will help stocks if growth in the U.S. falters.