Stock futures take off on jobs report

US futures bounce sharply higher after robust jobs report; unemployment falls to 7.5 percent

Associated Press
Stocks surge to new highs after hiring climbs
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In this Thursday, May 2, 2013, photo, traders gather at a post on the floor of the New York Stock Exchange. Stock markets edged higher on Friday May 3, 2013 ahead of the release of the U.S. government's monthly unemployment report, a key measure of the health of the world's largest economy. (AP Photo/Richard Drew)

NEW YORK (AP) -- Stock futures rose Friday after the April jobs report showed unemployment hitting a four-year low.

After a dismal report in March, the Labor Department said that employers added 165,000 jobs added in April, and upwardly revised figures for the previous two months eased fears that the economic recovery had stalled.

Dow Jones industrial futures rose 113 points to 14,873. S&P futures added 10.2 points to 1,602.50. Nasdaq futures rose 21.50 points to 2,923.50.

Trading before the report had been very light, with markets placing so much weight on the Labor Department report.

There was an average of 208,000 jobs created each month from November through April. That tops the 138,000 jobs added in the previous six months.

Also out Friday are the Institute for Supply Management's index on service companies and the Commerce report on factory orders.

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