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Dow soars 572 points as strong jobs report emboldens dip-buying in tech stocks

Dow soars 572 points as strong jobs report emboldens dip-buying in tech stocks


Johannes Eisele/AFP/Getty Images



US stocks rebounded to close the week as a strong February jobs report recovered earlier losses in tech stocks.A 



The US added 379,000 jobs in February, beating the consensus estimate of 200,000 additions.



The 10-year Treasury yield steadied after peaking at 1.62% on Friday morning.A 



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US stocks rebounded Friday as dip-buyers emboldened by the strong February jobs report helped lift mega-cap technology stocks out of correction territory.Businesses added 379,000 payrolls in February, the Bureau of Labor Statistics announced Friday. Economists surveyed by Bloomberg expected a gain of 200,000 payrolls. Further, the US unemployment rate unexpectedly fell to 6.2% from 6.3%.The 10-year Treasury yield surged to 1.62% on Friday morning after the jobs report. Its rise this week reflects that the US is preparing to exit a "horrible time in our economy," says Jamie Cox, managing partner for Harris Financial Group, told Insider.Here's where US indexes stood at the 4 p.m. ET market close on Friday:
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