Stocks Jumped on Jobs Report

U.S. stocks ended sharply higher on Friday, boosted by solid April jobs report. The Dow Jones Industrial Average jumped 267.05 points, or 1.49%, to 18,191.11 and finished the week 0.9% higher.The S&P 500 gained 28.10 points, or 1.35%, to 2,116.10 and gained 0.4% over the week. The Nasdaq Composite rose 58.00 points, or 1.17%, to 5,003.55 and finished the week roughly where it started.

Starbucks said it’s moving quickly to find a new source for its water subsidiary due to the four-year drought in California.The company said it plans to move production to its supplier in Pennsylvania starting this week over the next six months.

A federal inspector is taking the Treasury Department to task for not doing enough to increase participation in the government’ s Home Affordable Modification Program, known as HAMP, which helps keep homeowners out of foreclosure.

Visa Inc., the world’s largest payments network, is in preliminary talks to buy former subsidiary Visa Europe Ltd. in a deal that may be valued at as much as $20 billion.

Brent oil posted its first weekly loss in a month on Friday as the market fretted again about global oversupply while U.S. crude rose for an eighth straight week. U.S. crude rose 45 cents, or 0.8 percent, for the session to settle at $59.39 a barrel. It climbed 0.4 percent on the week, extending gains for an eighth straight week that had put the market up 32 percent.