Burst of hiring by US employers last month sends stocks indexes higher; Bonds, gold fall

NEW YORK, N.Y. – U.S. stocks are rising sharply as investors were encouraged by a burst of hiring last month.

Prices for gold and U.S. government bonds fell as investors sold safe-haven assets.

The Dow Jones industrial average rose 133 points, or 0.8 per cent, to 16,933 at noon Friday.

The Standard & Poor’s 500 rose 16 points, or 0.8 per cent, to 1,962. The Nasdaq rose 42 points, or 1 per cent, to 4,472.

The government reported that employers added 248,000 jobs in September. The unemployment rate fell to 5.9 per cent, the lowest since July 2008.

Gold slumped 1.7 per cent to $1,194 an ounce. The yield on the 10-year Treasury note rose to 2.45 per cent.

The dollar surged 1 per cent against the euro and the yen as traders anticipated higher U.S. interest rates and economic growth.