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* U.S. nonfarm payrolls rise by the most in 10 months
* Ulta Beauty jumps on quarterly profit beat
* All 11 major S&P 500 sectors trading higher
* Indexes up: Dow 1.21%, S&P 500 1.01%, Nasdaq 1.01%
(Updates price action)
By Shreyashi Sanyal
Dec 6 (Reuters) - U.S. stocks jumped on Friday as solid
monthly jobs data and upbeat comments from President Donald
Trump on trade talks with China spurred riskier bets, putting
the benchmark S&P 500 index on track to log its second weekly
gain in a row.
Wall Street's main indexes are now close to all-time highs
that they hit last week, after being nudged off by mixed
headlines on U.S.-China trade.
A Labor Department report showed domestic job growth
increased by the most in 10 months in November, aided by
striking workers returning to General Motors' GM.N payrolls
and more hiring in the healthcare industry.
"After the sharp slowdown at the start of the year, the
recent rebound in employment growth is clearly encouraging and
suggests that the loosening in financial conditions this year is
starting to support the economy," said Andrew Hunter, senior
U.S. economist at Capital Economics in London.
Global financial markets began the day on a strong note as
Trump said trade discussions with China were "moving right
along." China said it will waive import tariffs for some
soybeans and pork shipments from the United States, lifting the
mood.
White House economic adviser Larry Kudlow said the Dec. 15
deadline is still in place for a new round of tariffs on Chinese
goods, but Trump likes where trade talks are going. U.S. Treasury yields also jumped after the robust jobs
numbers, while bank stocks .SPXBK climbed 1.8%. US/
Trade-sensitive Philadelphia Semiconductor index .SOX
gained 1.5% and the broader technology sector .SPLRCT added
1.1%.
The Dow Jones Industrial Average .DJI was up 334.71
points, or 1.21%, at 28,012.50, the S&P 500 .SPX was up 31.56
points, or 1.01%, at 3,148.99 and the Nasdaq Composite .IXIC
was up 86.19 points, or 1.01%, at 8,656.89.
Ulta Beauty Inc ULTA.O jumped 13%, the most among S&P 500
companies, after the cosmetics retailer beat quarterly profit
expectations. 3M Co MMM.N gained 3.7% after a report said the company is
exploring a sale of its drug delivery systems business which
could fetch about $1 billion.
Tesla Inc TSLA.O rose 2% after the electric vehicle maker
said its Chinese-built Model 3 cars would receive state
subsidies.
Advancing issues outnumbered decliners by a 3.29-to-1 ratio
on the NYSE and by a 2.89-to-1 ratio on the Nasdaq.
The S&P index recorded 52 new 52-week highs and no new low,
while the Nasdaq recorded 104 new highs and 33 new lows.