NEW YORK — Stocks are closing sharply higher after the U.S. government reported a big increase in hiring last month.
The Dow Jones industrial average jumped 198 points, or 1.3 percent, to 16,020 Friday.
Trader Glenn Kessler, center, works on the floor of the New York Stock Exchange Friday, Dec. 6, 2013. The stock market is up sharply after the U.S. government reported a big increase in hiring last month. (AP Photo/Richard Drew)
The Standard & Poor's 500 index rose 20 points, or 1.1 percent, to 1,805. The Nasdaq composite rose 29 points, or 0.7 percent, to 4,062.
It was the first increase for the market after five days of losses. The S&P 500 still ended the week with a slight loss, the first after eight weeks of gains.
Industrial stocks and others that tend to benefit when the economy is growing posted some of the biggest gains. Intel led the Dow higher.
The government reported that U.S. employers added 203,000 jobs in November, the fourth straight month of solid growth.
Think your friends should see this? Share it with them!
Note: All comments left on our sites are first reviewed by an automated comment moderation system. Your comment may take up to 5 minutes to appear. If for any reason your comment can not be approved you will receive an email from this system with a detailed explanation.
Story copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to firstname.lastname@example.org and it will be forwarded to the appropriate editor or reporter.