Dow Jones industrial average surges 200 following jump in hiring by US employers last month

Markets Associated Press

Stocks are surging after the government reported a burst of hiring last month.

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The Dow Jones industrial average jumped 207 points, or 1.3 percent, to 17,008 as of 12:45 p.m. Eastern time Friday.

The Standard & Poor's 500 rose 22 points, or 1.2 percent, to 1,969.

The government reported that employers added 248,000 jobs in September. The unemployment rate fell to 5.9 percent, the lowest since July 2008.

The dollar surged 1 percent against the euro and the yen as traders anticipated higher U.S. interest rates and economic growth. Prices for gold and U.S. government bonds fell for the same reason.