The biggest corporate hiring spree in five years ended a weeklong slide in the stock market. The Labor Department reported Friday that private employers hired 268,000 people last month, the most since February 2006. Taking into account job cuts of government workers, the economy added a total of 244,000 jobs overall last month, well above what analysts had predicted.
The news on job growth helped lift the dollar, nudged up oil prices and reversed a four-day slump for stocks.
The Dow Jones industrial average gained 54.57 points, or 0.4 percent, to close at 12,638.74.
The Standard & Poor's 500 index rose 5.10, or 0.4 percent, to 1,340.20.
The Nasdaq composite rose 12.84, or 0.5 percent, to 2,827.56.
For the week:
The Dow is down 171.80 points, or 1.3 percent.
The S&P is down 23.41, or 1.7 percent.
The Nasdaq is down 45.98, or 1.6 percent.
For the year to date:
The Dow is up 1,061.23, or 9.2 percent.
The S&P is up 82.56, or 6.6 percent.
The Nasdaq is up 174.69, or 6.6 percent.