Job Additions Boost Markets To Sharply Higher Close

The addition of 103,000 jobs in September boosted investor sentiment to lift the markets to a sharply higher close with the Dow jumping 178 points to 11,836. Nasdaq surged 33 points to 2639.

On the upside

Shares of Leap Wireless (Nasdaq: LEAP) and MetroPCS (NYSE: PCS) rose after the House of Representatives froze state and local taxes on cellphones and wireless services for five years.


Third quarter earnings for Pioneer Natural Resources (NYSE: PXD) more than tripled to surpass analyst expectations by a wide margin as revenue surged.


Shares of Forest Oil (NYSE: FST) continued rising after reporting upbeat third quarter results and completing the spinoff of Lone Pine Resources.

On the downside


Lloyds Banking Group (NYSE: LYG) chief executive Antonio Horta-Osorio will take a medical leave of absence.


Becton, Dickinson and Company (NYSE: BDX) reported higher fourth quarter earnings and revenue but the company forecast 2012 results below estimates.

TRW Automotive (NYSE: TRW) disappointed with lower third quarter earnings as expenses rose.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 19 points to 733.

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