Improved Jobs Report Ignites Broad Wall Street Rally
The market’s rise snapped a five-day losing streak, with the strengthening job market shifting the focus of investors to growth rather than the fate of the Federal Reserve’s huge stimulus program. U.S. stocks rose today, with the Dow and the S&P 500 breaking five-day losing streaks on the strength of a jobs report that boosted investor confidence about an improving economy. The Dow Jones industrial average (^DJI) jumped 198.69 points, or 1.26 percent, to close at 16,020.20. The Standard & Poor’s 500 Index (^GSPC) climbed 20.06 points, or 1.12 percent, to end trading at 1,805.09, while the Nasdaq Composite Index (^IXIC) gained 29.36 points, or 0.73 percent, to end the day at 4,062.52.