"Strong Jobs Report Propels Wall Street to Rally: Stock Market Today"

The US stock market surged on Friday after a strong jobs report suggested that a recession may not be as close as feared. The S&P 500 rose 1.5%, putting it on the edge of entering a "bull market," while the Dow Jones Industrial Average rallied 2.1% and the Nasdaq composite gained 1.1%. The report showed employers unexpectedly accelerated their hiring last month, offering a hefty pillar of support for an economy that's begun to slow. Areas of the market that do best when the economy is healthy led a widespread rally, including stocks of industrial companies, energy producers, and banks.