When one of the most closely watched jobs market reports showed a generally strong picture of the United States economy on Friday, stocks on Wall Street picked right up and surged throughout the day, extending the strong start to 2012 and sending the Dow to its best closing level since 2008.
The government's monthly snapshot of the jobs market showed some acceleration in the United States economy in January. Aside from the performance of the Dow, the markets responded with milestones of other
sorts, with the broader market as measured by the Standard & Poor's 500-stock index pushing ahead by 6.94 percent for the year to date, its best such showing since the 13.97 percent gain in the similar period in 1987.
In addition, the Nasdaq composite index turned in its best close since December 2000, when the boom in Internet stocks was turning to bust.
On Friday, the S.& P. was up 1.46 percent, or 19.36 points, at 1,344.90, and the Dow Jones industrial average rose 1.23 percent, or 156.82 points, to 12,862.23, its best close since May 19, 2008, before the financial crisis. The Nasdaq surged by 1.61 percent, or 45.98 points, to 2,905.66, its highest close since Dec. 12, 2000.
The gains extended what has been one of the best starts to a year in decades. The three major indexes each ended January higher, with the broader market as measured by the S.& P. up more than 4 percent, its biggest January gain since 1997.
The jobs report was the latest in a series of economic reports that have given the United States equities market cause for optimism and provided an important counterpoint to the sovereign debt crisis in the euro zone.
In addition, the Commerce Department said factory orders rose 1.1 percent in December, although that was below forecasts of 1.5 percent and compared with the upwardly revised 2.2 percent jump in November.
Another report, from the Institute for Supply Management, showed that economic activity in the nonmanufacturing sector grew in January for the 25th consecutive month.
