Dow Jones hits 15,000, S&P crosses 1,600 - | Chattanooga News, Weather & Sports

Dow Jones hits 15,000, S&P crosses 1,600

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NEW YORK (AP) -- Standard & Poor's 500 index has crossed 1,600 for the first time.

In the first minutes of trading Friday, the S&P was up 16 points at 1,613, a gain of 1 percent.

Stocks were soaring in early trading after hiring surged in the U.S. last month and unemployment hit a four-year low.

Later, the Dow Jones industrial average crossed 15,000 for the first time

The Nasdaq composite rose 37 points, or 1 percent, to 3,378, in early trading.

Investors were encouraged after U.S. employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than the government first estimated.

The job increases helped lower the unemployment rate from 7.6 percent to a four-year low of 7.5 percent.

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