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Markets Right Now: US stocks close broadly higher

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4 p.m.

Stocks are closing broadly higher after solid gains in hiring last month allayed some of investors' concerns that the economy was slowing down.

The broad gains Friday erased nearly all of the significant losses the market suffered earlier in the week brought on by dismal news on U.S. manufacturing and service industries.

Apple led gains in technology with an increase of 2.8%.

The S&P 500 rose 41 points, or 1.4%, to 2,952. It still ended the week down 0.3%, its third straight weekly drop.

The Dow Jones Industrial Average rose 372 points, or 1.4%, to 26,573.

The Nasdaq added 110 points, also 1.4%, to 7,982.

The yield on the 10-year Treasury fell to 1.51%.

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11:45 a.m.

Stocks are broadly higher at midday Friday after the government reported steady, albeit slowing, job growth last month.

Technology stocks led the way higher. Bank and health care stocks also did well.

Apple rose 2.3% after a Japanese newspaper reported that the company has asked suppliers to increase production of the latest iPhone.

The mixed report on hiring was enough to calm some nerves on Wall Street following sharp drops earlier in the week caused by subpar reports on manufacturing and the service sector.

The S&P 500 rose 25 points, or 0.9%, to 2,936. The Dow Jones Industrial Average rose 229 points, or 0.9%, to 26,430. Both indexes remain modestly lower for the week.

The Nasdaq added 70 points, or 0.9%, to 7,942.

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9:35 a.m.

Stocks are opening broadly higher after the government reported steady, albeit slowing, job growth last month.

Technology stocks led the way higher in the early going on Friday.

Apple rose 2.1% after a Japanese newspaper reported that the company has asked suppliers to increase production of the latest iPhone.

The mixed report on hiring was enough to calm some nerves on Wall Street following a week of sharp drops caused by weak reports on manufacturing and the service sector.

The S&P 500 rose 17 points, or 0.6%, to 2,927.

The Dow Jones Industrial Average rose 150 points, or 0.5%, to 26,344. The Nasdaq added 51 points, or 0.6%, to 7,921.

Bond prices fell slightly. The yield on the 10-year Treasury rose to 1.54%.