Roundup: U.S. stocks soar after jobs report

U.S. stocks surged with global shares on Friday, as investors cheered over a jobs report that indicated signs of economic growth.

The Dow Jones Industrial Average spiked 267.05 points, or 1.49 percent, to 18,191.11. The S&P 500 jumped 28.10 points, or 1.35 percent, to 2,116.10. The Nasdaq Composite Index advanced 58.00 points, or 1.17 percent, to 5,003.55.

Total nonfarm payroll employment increased by 223,000 in April, and the unemployment rate was essentially unchanged at 5.4 percent, the U.S. Labor Department said Friday.

In April, average hourly earnings for all employees on private nonfarm payrolls rose by 3 cents to 24.87 U.S. dollars. Over the past 12 months, average hourly earnings have increased by 2.2 percent.

"Job growth has slowed in the past several months, which really shouldn't surprise anyone considering the average rate of GDP growth in the last two quarters was 1.2 percent," said Chris Low, chief economist at FTN Financial, in a note.

"Post report, bond yields are down and equity futures are up because the headline was weaker than expected, and especially weaker than the Wall Street consensus. That means the Fed's case for rate hikes is diminished," he added.

Investor sentiment was also buoyed by global stock markets' broad-based surges. European shares closed sharply higher on Friday after a surprisingly market-friendly U.K. election outcome by the center-right Conservative party, with the British benchmark FTSE 100 Index up 2.32 percent.

British Conservative Party won the 2015 general election with 331 seats of the House of Commons on Friday, a slender majority.

Meanwhile, leaders of Britain's three parties, including the Labour Party, the Liberal Democrats Party and the UK Independence Party, Friday announced their resignation as the parties' leaders after defeats in the election.

In Asia, Chinese equities rebounded strongly on Friday after a three-day diving streak with the benchmark Shanghai Composite Index increasing 2.28 percent.

For the week, the three major indices ended mixed after volatile trading, with the Dow and the S&P 500 up 0.9 percent and 0.4 percent respectively, while the Nasdaq down less than 0.1 percent.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, sharply shed 15.00 percent to end at 12.86 on Friday.

In other markets, U.S. oil price rose as job data of the country came out better than expected.

Light, sweet crude for June delivery moved up 45 cents to settle at 59.39 dollars a barrel on the New York Mercantile Exchange.

The U.S. dollar traded mixed against other major currencies as the nonfarm payroll report from the country came out mixed.

In late New York trading, the euro dropped to 1.1206 dollars from 1.1266 dollars in the previous session, while the dollar bought 119.79 Japanese yen, higher than 119.77 yen of the previous session.

Gold futures on the COMEX division of the New York Mercantile Exchange settled higher after a key jobs report added to signs of economic growth.

The most active gold contract for June delivery added 6.7 dollars, or 0.57 percent, to settle at 1,188.90 dollars per ounce. Endite