Summary Box: Stocks rally on surprising jobs news

AP News
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Posted: May 06, 2011 5:15 PM
Summary Box: Stocks rally on surprising jobs news

HIRING: The Labor Department reported Friday that private employers hired 268,000 people last month, the most since February 2006.

MARKETS MOVE: The news on job growth helped lift the dollar, nudged up oil prices and reversed a four-day slump for stocks. But the gains didn't make up for losses earlier in the week. The three major indexes ended the week down more than 1 percent.

THE INDEXES: The Dow Jones industrial average gained 54.57 points to close at 12,638.74. The S&P 500 index rose 5.10 to 1,340.20. The Nasdaq rose 12.84 to 2,827.56.