Stocks Close Higher After Jobs Report

NEW YORK (July 5, 2013)--Stocks closed higher Friday after the government said the economy added a stronger-than-expected 195,000 jobs last month.

The news helped investors shake off worries about the Federal Reserve scaling back its economic stimulus, which spooked markets early.

The Dow Jones industrial average finished up 147 points, or nearly one percent, to end the day at 15,135.

The Standard & Poor's 500 rose 16 points, or one percent, to close at 1,631.

The Nasdaq composite was up 35 points, or one percent, to end at 3,479.

After jumping early, stock gains tapered off and all the major indexes dipped briefly into the red, but by late afternoon, they were marching steadily higher.

The yield on the 10-year Treasury note jumped to 2.73 percent.

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