New York • The stock market headed higher in early Friday trading following news that U.S. employers added workers at a good clip for the fourth month in a row. Hertz plunged after saying it would need to restate three years of its financial results because of accounting errors.
KEEPING SCORE: The Standard & Poor's 500 index gained five points, or 0.3 percent, to 1,945 in the first 45 minutes of trading. The index, which is a benchmark for most investment funds, reached another all-time high the day before. The Dow Jones industrial average rose 48 points, also 0.3 percent, to 16,886, and the Nasdaq composite climbed 14 points, or 0.4 percent, to 4,311.
EMPLOYMENT PICTURE: The Labor Department said employers added 217,000 jobs to their payrolls in May. That's down from 282,000 in April but in the range of what economists had expected. The unemployment rate stayed put at 6.3 percent. Wall Street's forecasters had expected it to inch up a notch.