US stocks rally on strong jobs report
iStock/Thinkstock(NEW YORK) — U.S. stocks rallied on Friday after a strong February jobs report.
The Dow Jones Industrial Average jumped 440.53 (+1.77 percent) to finish the session at 25,335.74.
The Nasdaq climbed 132.86 (+1.79 percent) to close at 7,560.81, while the S&P 500 finished trading at 2,786.57, up 47.60 (+1.74 percent) for the day.
Crude oil prices soared more than 3 percent to about $62 per barrel.
Jobs Report: The U.S. economy added 313,000 jobs in February, the most jobs added since July 2016 and much higher than the 200,000 jobs estimated. Unemployment was unchanged at 4.1 percent for the fifth consecutive month.
Winners and Losers: Tech and FAANG stocks (Facebook +1.58 percent, Amazon +1.74 percent, Apple +1.72 percent, Netflix +4.56 percent, and Alphabet +2.79 percent) pushed the Nasdaq to a new record.
Shares of Mattel sunk 7.11 percent after Bloomberg reported that Toys “R” Us is preparing to liquidate its U.S. operations.
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