Stocks close at record highs as U.S. hiring surges

In this Monday, June 30, 2014, photo, trader John Liotti, center, and specialist Donald Civitanova, right, work on the floor of the New York Stock Exchange. World stocks were mostly higher Wednesday, July 2, 2014, on improved U.S. and Chinese economic activity. (AP Photo/Richard Drew) Show caption
In this Monday, June 30, 2014, photo, trader John Liotti, center, and specialist Donald Civitanova, right, work on the floor of the New York Stock Exchange. World stocks were mostly higher Wednesday, July 2, 2014, on improved U.S. and Chinese economic activity. (AP Photo/Richard Drew)

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.