Stocks rally as hiring spree surprised Wall Street

NEW YORK--the largest corporate hiring in five-year spree ended a slide a week on the stock market.

The Ministry of labour has indicated Friday that the committed private sector employers 268,000 people last month, the most since February 2006. Deletes jobs considering employees of the Government, the economy added a total of 244 000 jobs throughout last month, well over 185,000 jobs which had predicted analysts.

It was the third straight month with an increase of over 200,000 jobs.

The unemployment rate passed, however, to 9.0% 8.8% partly because more people that the search of work.

The news on the growth of employment has helped lift the dollar, pushed oil prices and reversed a slump of four days for stocks.

"Everyone was a little surprised by the number of jobs," said Frank Fantozzi, the CEO of the planned Financial Services, a company of Cleveland, Ohio. "It is a good indication for the markets that we are still in the phase of growth."

The Dow Jones index gained 54.57 points, or 0.4%, to close at 12,638.74. The standard & poor 500 index increased 5.10, or 0.4%, to 1,340.20. The Nasdaq composite rose 12.84, or 0.5%, to 2,827.56.

Global corporations of industry that benefit construction projects and the expansion has led the market following the jobs report. Caterpillar Inc. has increased by 1%. Boeing Co. has increased by 1.1%.

But the rebound Friday failed more losses earlier this week, when fears of a slowdown and lower remuneration than expected dragged in major stock indexes. All three ending the week down by more than 1%. The Russell 2000 index of small companies which have reached record highs just a week earlier, ended the week down 3.7%.

The highest number jobs have helped stem a sell-off of the products provided by fears that the economy was sputtering. Speculators and regular investors had begun to flee the products in an effort to lock profits when the economy slows even further.

"The jobs report put an end to the idea that growth appeared to be weakening, including what really fueled the most of the decline of products this week,"said Jeffery Kleintop, Chief Strategist at financial LPL.""

The dollar also got a lift. An index which measures the dollar against six major currencies gained 1 percent.

Financial markets are significantly different from this time last year. Friday marks the first anniversary of the "Flash Crash". Stocks dropped that day when a large trade submerged of servers in the market and sent prices into a tailspin. Although compound actions most of their losses that day, the sudden drop fueled skepticism that stocks are an investment course. That led many investors to silver traction of the stock market.

Both actions have increased for all those who fell at the New York Stock Exchange. Trading volume was $ 4.4 billion shares.