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Stock market rises sharply after hiring picks up

Friday - 6/7/2013, 6:22pm  ET

In this Thursday, May 23, 2013, photo, Trader Vincent Quinones, center, works on the floor of the New York Stock Exchange at the close of trading. Steady growth in hiring in May 2013 is sending the stock market sharply higher, Friday, June 7, 2013. (AP Photo/Richard Drew)

NEW YORK (AP) -- The stock market is closing sharply higher after the government reported a pickup in hiring last month.

The Dow Jones Industrial average rose 207 points, or 1.4 percent, to 15,248 Firday. It was the Dow's second-biggest gain this year.

Boeing led the Dow higher with a gain of 2.7 percent.

The Standard & Poor's 500 rose 20 points, or 1.3 percent, to 1,643. The Nasdaq rose 45 points, or 1.3 percent, to 3,469.

Indexes rose after the government reported that employers added 175,000 jobs last month, slightly more than expected. More people also started looking for work.

Investors still expect the Federal Reserve to continue its stimulus.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume was lighter than usual at 3.3 billion shares.


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