US stocks jump after strong jobs report

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U.S. stocks finished noticeably higher on Friday, fueled by a stronger-than-expected employment report.

The Dow Jones Industrial Average jumped 572.16 points, or 1.85 percent, to 31,496.30. The S&P 500 rose 73.47 points, or 1.95 percent, to 3,841.94. The Nasdaq Composite Index increased 196.68 points, or 1.55 percent, to 12,920.15.

All the 11 primary S&P 500 sectors ended in green, with energy up 3.87 percent, leading the gains.

U.S.-listed Chinese companies traded mostly higher with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

U.S. employers added 379,000 jobs in February, with the unemployment rate little changed at 6.2 percent, the Labor Department reported Friday.

The increase in new jobs topped Wall Street expectations. Economists surveyed by Dow Jones and The Wall Street Journal had forecast 210,000 new jobs.

U.S. equities suffered a three-day skid this week as of Thursday, as rising bond yields spooked investors.

The yield on the benchmark 10-year U.S. treasury, a crude proxy for inflation expectations, traded at around 1.58 percent Friday afternoon, after hitting more than 1.62 percent earlier in the session.

Federal Reserve Chairman Jerome Powell on Thursday said that the recent rise in yields has his attention. He reiterated that the central bank would be "patient" before changing policy even as it saw inflation pick up, saying it was likely to be a transitory fashion. 

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