A pleasant surprise greeted financial markets Friday when Labor Department numbers showed that jobs increased in September for the first time in eight months.

On the heels of the announcement, U.S. stocks rose Friday morning, with the Dow Jones Industrial Average soaring into triple digit gains and the S&P 500 rocketing up 16 points, all within the first 15 minutes of trading. By early afternoon, the Nasdaq had risen nearly 3%.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.