Dow and S&P hit records on solid jobs report
Fri Oct 5, 2007 9:28pm EDT
By Ellis Mnyandu
NEW YORK (Reuters) - The Dow and the S&P 500 surged to all-time highs on Friday after a solid employment report rekindled optimism about the U.S. economy and corporate profits. The economy added more jobs in September than economists had expected, while an earlier estimate of job losses in August was revised to a gain, quashing fears of recession. Friday's record run-up cemented the market's recovery from a late summer sell-off when a credit squeeze and mounting housing market losses drove investors away from equities.