UPDATE: US Stocks Rise Sharply as Hiring Gains Continue

By: AP
By: AP

NEW YORK The stock market is up sharply after the U.S. government reported a big increase in hiring last month.

The Dow Jones industrial average rose 155 points, or 1 percent, to 15,978 as of noon Eastern time Friday.

The Standard & Poor's 500 index rose 17 points, or 1 percent, to 1,802. The Nasdaq composite rose 30 points, or 0.8 percent, to 4,063.

It was the first increase for the market this week. The gains were broad; three stocks rose for every one that fell on the New York Stock Exchange.

Industrial stocks and others that stand to benefit the most from an economic recovery rose sharply. Intel, Boeing and General Electric led the Dow higher.

Employers added 203,000 jobs in November, the fourth straight month of solid growth.

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