Wall Street soars as US adds jobs
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Washington - Stocks shot up on Wall Street Friday as more jobs than expected were added to US payrolls in July, even as the US unemployment rate rose to a five-month high.
The unemployment rate figure ticked up to 8.3 per cent in July from 8.2 per cent in June even as 163,000 jobs were added to payrolls as more people looked for work, the Bureau of Labour Statistics said.
The blue-chip Dow Jones Industrial Average surged 217.29 points, or 1.69 per cent, to 13,096.17. The broader Standard & Poor's 500 Index added 25.99 points, or 1.9 per cent, to 1,390.99. The technology-heavy Nasdaq Composite Index increased 58.13 points, or 2 per cent, to 2,967.9.
The indices also ended on a positive note for the week with the Dow adding 0.16 per cent, the S&P rising 0.36 and the Nasdaq up 0.33 per cent.
The US currency fell against the euro to 80.73 euro cents from 82.12 euro cents on Thursday. The dollar rose against the Japanese currency to 78.47 yen from 78.23 yen.//DPA
