NEW YORK - After weeks of conflicting signals about the strength of the economy, a big gain in jobs gave Wall Street reason to celebrate Friday. Stocks surged, traders donned party hats, and the wave of buying drove three indexes through major milestones.
"There's euphoria today," said Stephen Carl, head equity trader at Williams Capital Group. "That's what you'd have to call it."
The Standard and Poor's 500 index closed above 1,600 for the first time, rising 16.83 points, or 1 percent, to 1,614.42. The Dow Jones industrial average punched through another milestone, 15,000, before easing back to 14,973.96, up 142.38 points or 1 percent.