BUSINESS

Stocks surge the most since March after US reports a pickup in hiring; Monster Beverage sinks

05/08/2015 04:11 EDT | Updated 05/08/2016 05:59 EDT
NEW YORK, N.Y. - The stock market had its biggest gain in two months after the U.S. government reported an encouraging pickup in hiring.

The gain of 223,000 jobs in April suggested that the economy may be regaining its footing after a slow start to the year.

The Dow Jones industrial average climbed 266 points, or 1.5 per cent, to 18,190 Friday.

The Standard & Poor's 500 gained 28 points, or 1.3 per cent, to 2,116. The Nasdaq composite rose 58 points, or 1.2 per cent, to 5,003.

All 10 sectors in the S&P 500 index rose, led by health care companies. It was the biggest gain for the index since March 16.

Monster Beverage sank 10 per cent after its earnings missed estimates.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.14 per cent.