Stocks surge to within 10% of records after signal recovery could come earlier than expected

NEW YORK — Wall Street surged on Friday after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the U.S. economy is headed for a quicker-than-anticipated recovery.

“It would suggest a further confirmation the economy is coming back online,” Arone added. “This is a strong signal that the effects are temporary and that the economy is improving.”U.S. Treasury yields rose on the jobs data, giving a boost to interest rate-sensitive banks. Unofficially, the Dow Jones Industrial Average rose 829.16 points, or 3.15 per cent, to 27,110.98, the S&P 500 gained 81.58 points, or 2.62 per cent, to 3,193.93 and the Nasdaq Composite added 198.27 points, or 2.06 per cent, to 9,814.08.

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Tech stocks have been a winning bet, but investors worry it will fadeTech stocks have been a winning bet, but investors worry it will fade GlobeInvestor globeinvestor We live in a culture that is acutely aware of price of everything and utterly ignorant of the value of anything else.
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Global stocks mixed after Wall St rises on better U.S. dataEuropean markets opened on Thursday lower while Asian shares gained after Wall Street rose on better U.S. jobs and manufacturing conditions than expected.
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