Saturday, Jul 23, 2016
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U.S. stocks edge higher after pickup in private hiring last month; Apollo Education slides

NEW YORK — Stocks are edging higher in midday trading after a private survey showed that U.S. companies increased hiring at a rapid pace.

The Standard & Poor’s 500 rose four points, or 0.2 percent, to 1,889 as of noon today. The index is at an all-time high.

The Dow Jones industrial average gained 16 points, or 0.1 percent, to 16,548. The Nasdaq composite climbed five points, or 0.1 percent, to 4,273.

Payroll processer ADP reported that U.S. companies increased hiring at a rapid pace last month.

Apollo Education slumped 9 percent after reporting revenue that fell short of what investors were expecting. New student enrollment at the University of Phoenix fell 16.5 percent.

Bond prices fell. The yield on the 10-year Treasury note climbed to 2.80 percent.

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