US shares and dollar jump on jobs data



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(Close): Stocks on Wall Street ended the day higher and the dollar jumped following the release of stronger-than-expected jobs figures for September.

US Labor Department figures showed 248,000 jobs were created last month and the unemployment rate dropped to a six-year low of 5.9%.

The Dow Jones rose 208.64 points, or 1.24%, to 17,009.69 while the S&P 500 climbed 21.73 points to 1,967.90.

The tech-heavy Nasdaq closed up 45.43 points, or 1.03%, to at 4,475.62.

The dollar hit a four-year high against a basket of currencies as some analysts felt the jobs report might mean the US Federal Reserve could bring forward the timing of interest rate rises.

However other analysts said that while the jobs data showed the economy was growing, the timing of a rate rise next year was unlikely to change.

"It was a good report but I don't think it changes the Fed dynamics," Kim Rupert, from Action Economics, told Reuters.

"I still think the first rate hike is maybe mid-year."

Financial stocks were the day's big winners, with Goldman Sachs leading the pack, rising 2.8%.

Shares in JP Morgan closed up 2.5%, even though the bank disclosed late on Thursday that 76 million customer accounts were compromised in an August data breach - significantly more than the bank had previously estimated.