Stocks rise on fewer job cuts than expected

Stocks jumped Friday after the government's employment report showed fewer jobs were cut last month than expected.

The Dow rose 122.06 points, or 1.2 percent, to 10,566.20, its highest close since Jan. 20 and its best point and percentage gain since Feb. 16. The Standard & Poor's 500 index rose for a sixth straight day, rising 15.72 points, or 1.4 percent, to 1,138.69. The Nasdaq composite index added 34.04, or 1.5 percent, to 2,326.35.

Employers cut 36,000 jobs last month, better than the 50,000 cuts forecast by economists. The unemployment rate held steady at 9.7 percent. - AP