Alva Review-Courier -

NEW YORK (AP) — Encouraging reports on hiring and growth in the service sector sent small companies and banks higher Wednesday and knocked bond prices into a tailspin. The yield on the benchmark 10-year Treasury note spiked to its highest level in more than seven years.

Both reports were stronger than analysts expected and suggest the economy is in good shape in spite of rising interest rates and oil prices, and the ongoing trade dispute between the U.S. and China.

"This is evidence of strong economic growth and the likelihood earnings will continue to be good," said Ameriprise Chief Market St...