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Stocks End Higher as Investors Celebrate Job Growth

Major U.S. stock indices were up more than 1% as investors cheered the surprisingly large number of new jobs added to the economy last month.

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NEW YORK (TheStreet) -- The major U.S. stock finished their second best day of trading this year after investors celebrated an unexpected drop in the unemployment rate to its lowest level in almost three years.

The Dow Jones Industrial Average closed 156.8 points higher, or 1.2%, at 12,862. The S&P 500 advanced 19.4 points, or 1.5%, to 1,345. The Nasdaq gained 46 points, or 1.6%, to 2,906, pushing the week's gains to 3.2% -- the best weekly performance in two months.

Only three components of 30 on the Dow traded lower. Bank of America(:BAC), Alcoa(:AA)and Caterpillar(:CAT)led the Dow higher. Merck(:MRK), Procter & Gamble(:PG) and Pfizer(:PFE) were slipping 0.1% , 0.7% and 0.1%.

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