Markets Right Now: Strong hiring report sends stocks higher

NEW YORK – 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 per cent and Applied Materials rose 2.4 per cent.

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

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

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