Markets Right Now: Strong hiring report sends stocks higher

July 7, 2017 at 9:59a.m.

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

9:35 a.m.

Stocks are opening higher after the government said hiring increased at a solid pace in June.

Technology, health care companies and banks posted the biggest gains in early trading Friday. The gains came a day after the market had its biggest drop since mid-May.

Facebook rose 1 percent and Applied Materials rose 2.4 percent.

The Standard & Poor’s 500 index rose 7 points, or 0.3 percent, to 2,416. The Dow Jones industrial average gained 49 points, or 0.2 percent, to 21,363.

The Nasdaq composite increased 31 points, or 0.5 percent, to 6,120.

Bond prices fell. The yield on the 10-year Treasury rose to 2.38 percent.