Dow Jones industrial average tops 17,000 following strong US job gains

The Associated Press

FILE - This Aug. 9, 2011, file photo, shows a Wall Street street sign near the New York Stock Exchange, in New York. A strong jobs report pushed up the stock market higher Thursday, July 3, 2014, with the Dow Jones industrial average crossing 17,000 for the first time. The Department of Labor said employers added 288,000 workers in June, and the unemployment rate fell to 6.1 percent. (AP Photo/Mark Lennihan, File)

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NEW YORK (AP) — The Dow Jones industrial average is closing above 17,000 for the first time after the U.S. government reported a big gain in hiring last month.

The government said early Thursday that employers added 288,000 workers in June, far more than economists were expecting.

The Dow rose 92 points, or 0.6 percent, to close at 17,068 Thursday.

The Standard & Poor's 500 index rose 10 points, or 0.6 percent, to 1,985. The Nasdaq composite gained 28 points, or 0.6 percent, to 4,485.

Trading closed early ahead of the July 4th holiday Friday.

PetSmart jumped 13 percent, the most in the S&P 500 index, after the activist investor Jana Partners disclosed a 9.9 percent stake in the company.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.65 percent.

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