U.S. stocks surged more than 1 percent on Friday as investors cheered the nonfarm payroll jobs report, which helped support European markets.
The U.S. economy created 223,000 jobs in April, bouncing back from a sluggish period the first three months of the year, as companies shook off the effects of a surging U.S. dollar and falling profits. The unemployment rate fell to 5.4 percent. The result marks a recovery from March's 126,000 jobs, the worst report since December 2013.
Economists expected nonfarm payrolls to rise 224,000 in April, with the unemployment rate dropping to 5.4 percent from 5.5 percent in March.
Analysts called the April employment figures a "Goldilocks" report because it was just right for gains in stocks. The Dow Jones Industrial Average quickly gained more than 250 points as all blue chips advanced.