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Solid US jobs report sends Dow up 1.7%

Published on Aug 4, 2012 6:43 AM

NEW YORK (AFP) - United States (US) stocks surged on Friday, boosted by the Labour Department's July labor report showing stronger-than-expected jobs growth and a slight increase in services sector activity.

The Dow Jones Industrial Average finished at 13,096.17, up a hefty 217.29 points (1.69 per cent).

The tech-rich Nasdaq leaped 58.13 points (2.00 per cent) to 2,967.90, while the S&P 500-stock index advanced 25.99 points (1.90 per cent) to 1,390.99.

The United States added 163,000 jobs in July and the jobless rate ticked up a tenth of 1 per cent to 8.3 per cent, the Labour Department said.

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