Dow Jones jumps over 300 points on strong jobs report

Stock markets surged Friday following an unexpectedly good showing in the February jobs report.

The Dow Jones Industrial Average rose 310 points, or 1 percent, and the S&P 500 increased 31 points, or 0.8 percent.

Both remain below their February peaks. In recent weeks, stocks have been shaky as fears of an overheated economy and inflation have spiked bond yields, which make stocks less attractive.

But the Labor Department’s February jobs report released Friday found that the economy added 379,000 jobs, more than twice the number economists expected.

Stock futures immediately picked up following the report’s release.

Investors are watching the $1.9 trillion COVID-19 relief bill expected to pass in the Senate this weekend, which critics say is too large given the economy’s needs and supporters say will help fuel a strong, quick recovery.