Futures had been pointing to about a 1% rise at the opening bell before the jobs numbers were released -- but after the upbeat report, the Dow started the day with a gain of 1.5%, or more than 380 points.
The US economy added 4.8 million jobs in June, bringing the unemployment rate down to 11.1%.
The S&P 500 and Nasdaq each rose about 1.2%, with the Nasdaq hitting a new all-time high. Big tech stocks Microsoft (MSFT), Amazon (AMZN) and Netflix (NFLX) were all trading at new records.
Tesla (TSLA) continued its meteoric rise as well, surging 8% to a new peak above $1,200 a share. Tesla also announced Thursday that it produced more than 82,000 vehicles in the second quarter and delivered nearly 91,000 cars -- mostly its more affordable Model 3 and Model Y.
Elon Musk's electric car company has now soared nearly 200% this year. Tesla is worth over $225 billion, more than blue chip companies Coca-Cola (KO) and Disney (DIS) as well as many other stocks in the Dow and S&P 500.
Shares of Big Pharma leader Pfizer (PFE) and Germany's BioNTech (BNTX) continued to rally one day after the two drug companies announced "encouraging" data from an early study of a Covid-19 vaccine that the two companies are developing.
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July 02, 2020 at 08:45PM
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Stocks soar after jobs report - CNN
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