Posted 4 years ago on Feb. 3, 2012, 12:57 p.m. EST by JoeTheFarmer
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Stocks rose on Friday, propelling the Nasdaq index to an 11-year high, after January's U.S. employment report sailed past expectations, boosting hopes the world's largest economy has turned a corner.
The broad-based gains also sent the Dow Jones industrial average to its highest in nearly five years. The S&P 500 extended its 2012 advance to about 7 percent.
The U.S. economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to nearly a three-year low of 8.3 percent.