JOBS RELIEF: The strong jobs report follows an even larger gain in June. U.S. stocks jumped Friday morning as a strong July jobs report gave investors more confidence that the economy is still growing. Bank stocks rose on the prospect of higher interest rates, and consumer companies rose as investors hope shoppers will have more money to spend. July's report provides more evidence the economy is doing well, making a boost in interest rates more likely. Banks rose the most Friday morning, as higher interest rates boost their profits on lending.

Source: Los Angeles Times August 05, 2016 14:11 UTC