Stocks Rally on Jobs Report

U.S. stocks opened higher on Friday after a stronger-than-anticipated monthly jobs reports. The
Dow Jones Industrial Average lately rose 127.85 points, or 0.81%, to 15,949.36. The S&P 500 was up
14.76 points, or 0.83%, to 1,799.79. The Nasdaq Composite gained 27.35 points, or 0.68%, to
4,060.51.

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.