Stocks End Sharply Higher on Jobs Report

U.S. stocks jumped on Friday, after a strong jobs report gave traders confidence that the economy
was improving. The Dow gained 198.69 points, or 1.26%, to close at 16,020.20, finishing the week
with a 0.4% decline. The S&P 500 rose 20.06 points, or 1.12%, to close at 1,805.09, but edged down
less than 0.1% for the week. The Nasdaq Composite jumped 29.36 points, or 0.73%, to end at
4,062.52, rising less than 0.1% for the week.

U.S. employers hired more workers than expected in November and the jobless rate fell to a five-
year low of 7.0 percent, which could fan speculation the Federal Reserve could start reducing its
bond purchases this month. Nonfarm payrolls increased by 203,000 new jobs last month, the Labor
Department said on Friday.

U.S. consumers increased their spending in October even though their wages and salaries barely
increased. Consumer spending increased 0.3 percent in October compared with September when
spending rose 0.2 percent, the Commerce Department reported Friday.
On the heels of strong November vehicle sales and positive economic data, General Motors (GM) has
topped $40 for the first time since being rescued by the U.S. government and then re-listing in
Nov. 2010.

Struggling Sears Holdings Corp. said Friday it will spin off its Lands’ End clothing business,
adding to the list of units it has been getting rid of to raise cash.