Stocks gained more than 1 percent to end on a sharply higher note after the U.S. unemployment rate dropped to a three-year low and the world's largest economy added more jobs than forecast.
S&P 500 Index advanced 1.46 percent to finish at 1,344.89. The Dow Jones Industrial Average gained 1.23 percent to close at 12,861.93 on Friday. The Nasdaq Composite Index climbed 1.61 percent to end at 2,905.66, hitting an 11-year high.
On the economic front, non-farm payrolls rose 243,000 in January to a highest in nine months, and the jobless rate dropped to 8.3 percent from 8.5 percent in December. Economists expected the non-farm payrolls to increase by 135,000 last month and unemployment rate to remain unchanged at 8.5 percent.
Hot Stocks Of The Day: (GILD, GNW, EW, WYNN, THQI)
In corporate news, Gilead Sciences Inc. (NASDAQ:GILD) jumped 10.0 percent to $54.69 after the biopharmaceutical company posted stronger-than-expected quarterly revenue.
Genworth Financial Inc. (NYSE:GNW) climbed 14.05 percent to $9.17 after the insurance provider swung to a quarterly profit.
Wynn Resorts Ltd. (NASDAQ:WYNN) fell 4.8 percent to $114.98 after the operator of destination casino resorts reported quarterly results.
Edwards Lifesciences Corp. (NYSE:EW) slumped 11.3 percent to $71.54 after the company posted lower quarterly earnings on charges and issued a weak first-quarter forecast.
THQ Inc. (NASDAQ:THQI) plunged 30.1 percent to $0.53. The interactive-games maker, which reported a quarterly loss, may need to draw on a revolving line of credit, a Bloomberg report quoted Todd Mitchell, an analyst with Brean Murray Carret, as saying.
Trimble Navigation Ltd. (NASDAQ:TRMB) soared 5.5 percent to $50.83 after the company reported stronger-than-expected quarterly earnings.
Global Markets:
The European markets ended sharply higher on upbeat American economic data, with Germany's DAX up 1.55 percent to end at 6,758.90. France's CAC40 gained 1.30 percent to 3,420.59. Britain's FTSE 100 advanced 1.65 percent to 5,891.53.
In the Asian market, China's SSE Composite Index rose 0.77 percent to finish at 2,330.42 and Hong Kong's Hang Seng edged 0.08 percent to close at 20,756.98. Japan's Nikkei 225 lost 0.51 percent to end at 8,831.93. India's BSE 30 Sensex finished 0.99 percent higher at 17,604.96.
Global Markets:
The European markets ended higher, with Germany's DAX up 0.62 percent to end at 6,657.40. France's CAC40 gained 0.28 percent to 3,376.92. Britain's FTSE 100 edged 0.02 percent higher to 5,792.15.
In the Asian market, China's SSE Composite Index gained 1.92 percent to finish at 2,311.69 and Hong Kong's Hang Seng advanced 2.00 percent to close at 20,739.45. Japan's Nikkei 225 rose 0.76 percent to end at 8,876.82. India's BSE 30 Sensex finished 0.76 percent higher at 17,431.85.
Market Scan:
Commodities closed the day on a mixed note with crude oil gaining 1.34 percent to end at $97.65 per barrel, while natural gas price fell 1.53 percent to close at $2.515 per million metric British thermal units. Gold dropped 1.79 percent to $1,727.8 per ounce, and silver prices fell 1.95 percent to close at $33.51 per ounce.
In the currency market, the euro inched 0.02 percent lower against the U.S. dollar to $1.3142. The British pound ticked 0.06 percent higher against the greenback, while the dollar fell 0.45 percent against the Japanese yen to 76.5600.