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Stocks jump following release of positive jobs report

Posted at 8:58 AM, Dec 06, 2019

Investors cheered the blockbuster November jobs report.

US stocks surged Friday morning as solid payroll and wage gains and an unemployment rate that remains at a half-century low eased fears that trade tensions are hurting the US economy.

The Dow gained more than 250 points, or about 0.9%, in early trading and all 30 Dow stocks were trading higher.

The S&P 500 and Nasdaq each rose more than 0.8% as well. The Dow and Nasdaq trimmed their weekly losses thanks to Friday's rally while the S&P 500 is now up slightly for the week and not far from its all-time high.

The strong jobs report should allay concerns about a severe slowdown in the US economy. The labor numbers likely will keep the Federal Reserve on hold for the foreseeable future as well. The Fed meets on December 11 and is not expected to change interest rates.