Markets Right Now: Payroll survey boosts stocks

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

9:35 a.m.

Stocks are rising after a survey showed that hiring by private businesses was stronger than expected in May.

ADP said Thursday that private companies added 253,000 jobs last month, which was more than investors expected.

Technology companies are making some of the largest gains. Palo Alto Networks soared 17 percent after a better-than-expected earnings report.

Discount store chain Dollar General rose 5 percent after it surpassed Wall Street’s expectations.

Farm equipment maker Deere gained 2 percent after it said it will buy road construction equipment maker Wirtgen Group for about $5.2 billion.

The Standard & Poor’s 500 index gained 2 points, or 0.1 percent, to 2,413.

The Dow Jones industrial average slipped 5 points to 21,003. The Nasdaq composite jumped 13 points, or 0.2 percent, to 6,211.