Stocks close at record highs as US hiring surges

Wednesday - 7/2/2014, 4:21pm EDT

NEW YORK (AP) -- Stocks are closing at record levels following news that business hiring surged in June.

Constellation Brands, the owner of Corona and Negra Modelo beer, rose 2 percent after the company said its income soared in the latest quarter.

Delta Air Lines dropped 5 percent after the company said growth in a key revenue figure slowed in June.

The Dow rose 20 points, or 0.1 percent, to close at 16,976 Wednesday.

The Standard & Poor's 500 index rose a point to 1,974. The Nasdaq composite edged down a point to 4,457.

Payroll processer ADP said U.S. businesses added 281,000 jobs last month, up from 179,000 in the previous month.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.62 percent.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.