NEW YORK (AP) — A surprising jump in hiring is sending bond prices lower. Stocks are edging higher.
A survey from payroll processor ADP found that private companies added 297,000 jobs last month, far above the 100,000 economists expected. The report is the first chance for investors to see how strong the job market was in December.
The Dow Jones industrial average is up 34 points, or 0.3 percent, to 11,725 in midday trading Wednesday.
The S&P 500 index is up 5, or 0.4 percent, to 1,275. The Nasdaq is up 17, or 0.6 percent, to 2,698.
Treasurys prices slid, pushing their yields higher. The yield on the 10-year note rose to 3.45 percent from 3.33 percent late Tuesday. The higher rates pushed the dollar up against other currencies including the Japanese yen.
