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US stocks surge 2% on strong jobs report

In midday trading, the Dow Jones Industrial Average stood up 1.3 percent, with the broad-based S&P 500 and the tech-rich Nasdaq Composite Index managing similar gainsWall Street equities jumped two percent on a strong US jobs report Friday that underscored the differences between the sturdy US economy and sluggish growth elsewhere. With markets around the world in the red — including 2.2 percent plunges in Japan and Brazil and a 0.6 percent drop in London — Wall Street headed in the opposite direction even though the official November employment report raised the likelihood that the Federal Reserve will decide to begin increasing interest rates at its December 15-16 meeting. “The ‘data dependent’ Fed will be reassured that the economy is showing no sign of succumbing to worries about the global outlook,” said Chris Williamson, chief economist at Markit.

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