BUSINESS

Dow Jones industrial average closes at record high after surprise surge in hiring last month

11/08/2013 04:24 EST | Updated 01/23/2014 10:53 EST
NEW YORK, N.Y. - The Dow Jones industrial average is closing at another record high after the U.S. government reported an unexpected surge in hiring last month.

The Dow rose 167 points, or 1.1 per cent, at 15,761. JPMorgan Chase and Goldman Sachs rose the most in the Dow. The index also closed at a record high on Wednesday.

The Standard & Poor's 500 rose 23 points, or 1.3 per cent, to 1,770, just one point below the all-time high it set on Oct. 29.

The Nasdaq composite rose 61 points, or 1.6 per cent, to 3,919.

Trading volume was heavier than usual.

Treasury prices fell after the U.S. reported that employers added 204,000 jobs last month, more than economists expected. The yield on the 10-year note jumped to 2.75 per cent, the highest in six weeks.