Financial Economics Latest News: Most Sprint Shareholders Choose Cash Over 'New Sprint' Investment

Wochit 1:20 mins

A whopping 97 percent of shareholders elected to receive cash in the SoftBank of Japan's takeover of Spring. Just 3 percent want to remain Sprint shareholders. NEW YORK (AP) ? The U.S. stock market is closing higher after a bumpy start, with investors encouraged by a big uptick in hiring. After jumping early, stock gains tapered off. All the major indexes dipped briefly into the red, but by late afternoon, they were marching steadily higher. The Dow Jones industrial average finished up 147 points, or nearly one percent, to 15,135. The Standard & Poor's 500 rose 16 points, or one percent, to 1,631. The Nasdaq composite was up 35 points, or one percent, to 3,479. Rising bond yields claimed some victims in the stock market today. Utilities, for example, which in an era of low bond yields have proved popular for their dividend income, are weaker. But the sharp jump in bond yields has not been enough to throw stock markets off a stride quickened by the better-than-expected US jobs report.

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